Warsaw Stock Exchange shareholders make bid to change management

According to unofficial sources quoted by Rzeczpospolita, today's shareholders meeting of the Warsaw Stock Exchange (WSE) will likely choose a new president for the bourse. Deputy Treasury Minister Alicja Kornasiewicz is rumored to be a candidate for the post. The WSE managing board's term is coming to an end, so the shareholders meeting will appoint a new board, as well as make changes to the WSE Council. Rozlucki has been the WSE's president since its inception in 1991 and his dismissal would be a surprise to many. In recent months the WSE has accelerated work on its new computer system Warset, as well as made an effort to attract new information technology (IT) companies to its floor. However, many stock market participants claim these changes are insufficient. "The present management of the WSE is implementing new ideas too slowly. The introduction of a new computer system takes years," said Jacek Lichota, analyst with ING BSK Asset Management. Another issue is the privatization of the WSE, in which the Treasury Ministry has a controlling stake. (Puls Biznesu, page 7, Rzeczpospolita, page 7) T.J.