Wage rules for companies' heads come into force

On September 9, new rules on the salaries for heads of companies, in which Poland has a stake, came into force, the Treasury Ministry reported. Wages for bosses of such companies will be linked to the size of the firm. In case of micro-enterprises (employing up to 10 people), the salary of a board member must be 1-3 times the average wage in enterprise sector; for small firms (11-50 people) - 2-4 times; for medium companies (51-250 employers) - 3-5 times; for large companies (251-1250) - 4-8 times; and for "large plus" - 7-15 times the average wage in enterprise sector. Earlier, pay restrictions applied to companies in which the Treasury owns above 50 percent of shares. So, the rules did not apply to Poland's biggest insurer PZU, largest refiner PKN Orlen and copper & silver mining giant KGHM.