Treasury Ministry rumored to attempt wholesale dismissal of PZU board

Prawo i Gospodarka daily has learned the Treasury Ministry wants to make sure the whole Powszechny Zaklad Ubezpieczen board of directors is dismissed within two months. "June at the latest the new board will be known," said Treasury Minister Emil Wasacz. However, he refused to reveal any names. It is expected that during the general shareholders' meeting planned for May 24 the Ministry will try to file a motion to hasten the expiration of the directors' mandates. The Ministry's reasons for the action remain unknown. Still, lawyers are of the opinion that such an action cannot be carried out as, according to regulations dismissing the whole board of directors is not allowed. It is possible the motion for the new board will have to wait until the matter is settled. (Prawo i Gospodarka, page 10) J.K.