PZU CEO dismissed amid strategy shift

PZU CEO Andrzej Klesyk has been dismissed, the Ministry of State Assets (MAP) announced, citing the need to align the company’s management with its ownership objectives and to push forward an ambitious development strategy amid challenges facing the insurance sector.
According to MAP, the effective execution of this strategy demands clear leadership and constructive dialogue with shareholders and employees.
Klesyk had only recently rejoined PZU’s management board at the end of February, with his appointment as CEO contingent on regulatory approval. That consent from the Polish Financial Supervision Authority (KNF) was granted on July 2.
PZU Group is the largest financial institution in Central and Eastern Europe. Listed on the Warsaw Stock Exchange since 2010, it is a key component of the WIG20 index.