What direction for Kredyt Bank following resignations?

Three deputy presidents of Kredyt Bank, Frank Jansen, Bronisława Trzeszkowska and Waldemar Nowak decided to leave the company, which analysts interpret as proof of growing tensions between the management and the major shareholder, Belgian KBC. "Nowak's resignation is interesting in the sense he was always tipped to become the new president," said DI BRE Bank analyst Andrzej Powierża. The management of the bank will choose the new president during its shareholders meeting scheduled for May. Its previous president, Stanisław Pacuk, resigned in January due to open conflict with major shareholder in terms of managing the bank and its strategy. One expert claims that the three were forced to go as they were seen as holding improvements in efficiency back and partly to blame for a zł. 331.8 million loss in 2002. (Puls Biznesu, pp. 1, 6) M.M.