Shareholders to consider changes in BOS management
Sweeping changes to the supervisory board of Bank Ochrony Srodowiska (BOS)
look set to be approved, as the new government attempts to increase its
influence over the bank. The changes have been included on the agenda for
the next general shareholders meeting of BOS, called by the National Fund
for Environmental Protection and Water Management (NFOSiGW) for December 21.
The fund owns a 44% stake in BOS, while the major shareholder, Skandinaviska
Enskilda Banken AB (SEB) of Sweden, has a 46% holding. There seems little
doubt that the motion to dismiss the supervisory board will be passed, and
Rzeczpospolita speculates that a change in the board of directors would
quickly follow. The paper suggests that the new Democratic Left Alliance
(SLD)-led government is keen to have a greater influence over the bank's
affairs, something it can achieve since the NFOSiGW is a State institution.
The political changes brought about by the September election are cited as
the reason for the dismissal of BOS president Jaroslaw Chudecki at the
beginning of November. (Rzeczpospolita, p. B5; Prawo i Gospodarka, p. 8)
P.W.
