Strategy differences cited by TPSA board as reason for CFO's dismissal

The supervisory board of leading telecoms operator Telekomunikacja Polska (TPSA) on Friday fired the company's Chief Financial Officer, George S torozynski. TPSA spokesman Wojciech Roman explained Storozynski had been sacked because "his activities were not in line with the management-approved company strategy." According to sources quoted by Gazeta Wyborcza, the board's decision was unanimous. Storozynski, who was hired by TPSA in October last year, had been pursuing a strategy of cutting the size of the workforce, restructuring the company's debt and selling its non-core assets. Reports that between 10,000 and 12,000 employees, or 20% of the TPSA w orkforce, might be made redundant led to the company's labor unions th reatening strike action. Andrzej Kasperek, an analyst with Bank Handlowy brokerage house, told Reuters, "The dismissal may delay the long-awaited release of details about their restructuring plan." (Gazeta Wyborcza, Jan. 26-27, p. 26; Reuters) M.T.K.