Treasury Min. keeps stalling Eureko on new PZU head

Tensions are mounting between the two shareholders of Poland's largest insurer Powszechny Zaklad Ubezpieczen S.A. (PZU), the Treasury Ministry and Eureko. According to Eureko, the Ministry is not keeping its promises. Former Treasury Minister, Emil Wasacz, had signed an agreement with other PZU shareholders, Eureko and BIG Bank Gdanski (BIG BG), to appoint economist Bohdan Wyznikiewicz head of the PZU supervisory board. However, Wasacz had been dismissed and his successor, Andrzej Chronowski, said he must think about this decision. This was a week ago and according to an anonymous Eureko source, Chronowski has since turned down three requests for a meeting. "Does this mean that all agreements signed by the previous Minister are no longer binding?", said the Eureko source. Another issue is the outstanding zl. 90 million Eureko is also supposed to pay the Treasury as a privatization premium for PZU's good financial results. However, Eureko is delaying the payment, saying the company which audited PZU said it is not sure it knows about all of the insurer's financial obligations. (Gazeta Wyborcza, page 21)