PZU removes 11 out of 12 supervisory board members

At the conference, Eureko accused PZU of bullying its people. State-recommended members of PZU's board and PZU Zycie issued a special statement in which they denied Eureko's claims and accused the company of acting against PZU interests, promising to present evidence during November's general shareholder's meeting. Out of 12 Eureko representatives only one remains - deputy president of PZU, Piotr Kawalczewski, who is also a member of the supervisory board of PTE PZU. The new supervisory board members have come from either state-recommended PZU management, or are be renowned experts in management, law and banking. The board of directors will be also be refreshed in the near future. Only PTE PZU, PZU and PZU Zycie can avoid changes, as the right to appoint Eureko's representative in the management of these companies is guaranteed by the privatization agreement. (Puls Biznesu, p.8) J.L.