PZU CEO points the finger at his predecessor

Netzel claims that zl.300 million were drained from PZU to its subsidiaries PZU Ukraine and PZU Lietuva through bad investments and poor management. PZU as the owner of the companies had to cover the losses. Although the person directly responsible for PZU's overseas investments was its General Director Miroslaw Kowalski, who was recently dismissed, but the company's then president, Cezary Stypulkowski, must have known about the problems and did nothing. Jacek Kurski, deputy chair of the Sejm's Treasury Commission says that PZU Ukraine was a political decision of the previous government. However, other experts find the denouncement as Neztel's attempt to divert attention from his past strange businesses activities. (Dziennik, August 18-19, p. 3) J.L.