Shoemaker-turned internet firm wants to re-boot with profit

Internet Group's supervisory board will meet next week to select a successor to deputy president Marcin Marszałek who resigned at the end of July. The new president's main task will be breathing both life and profit into the ailing concern. The board meeting on August 31st coincides with the shareholders' general meeting, which will consider approving the financial report for 2003. Both decisions should be made smoothly, as Internet Group is controlled by Józef Jędrzejczyk, who also happens to be the head of the supervisory board. "We have decided to make an internal promotion. The new president is going to be one of the company's employees," disclosed Jędrzejczyk. Internet Group is a minor company which now deals mainly with providing internet services. It used to be a shoe production company (Ariel) but four years ago completely changed its profile and keeps returning losses. Over the last two years the firm's share price has not been higher than zł.2.5. (Parkiet, p. 5) A.F.