Treasury to replace PIR chief executive?

Poland’s State Treasury is preparing a competition for a new CEO of investment vehicle Polskie Inwestycje Rozwojowe (PIR), according to information gathered by Puls Biznesu. Current chief executive Mariusz Grendowicz is reportedly not a candidate. Some sources quoted by the daily claim that Grendowicz is tired of the criticism that the company he runs has to face. The peak came when recordings emerged of Interior Minister Bartłomiej Sienkiewicz calling PIR not much more than a “pile of stones.” Others said that there is tension between PIR and the Treasury Ministry. Some of the reasons may relate to investment decisions. Another problem may be that Grendowicz was appointed by the previous minister, Mikołaj Budzanowski. No names have yet emerged in connection with the new contest for PIR chief executive, the daily also wrote.