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Polish stock exchange appoints Rafal Antczak as new CEO
January 4, 2017 / 10:41 AM / a year ago

Polish stock exchange appoints Rafal Antczak as new CEO

WARSAW, Jan 4 (Reuters) - Shareholders of Poland’s state-run stock exchange dismissed on Wednesday the bourse’s Chief Executive Officer Malgorzata Zaleska and appointed economist Rafal Antczak as the new head.

Zaleska was appointed at the start of 2016 as part of a wider management reshuffle in state-controlled firms following parliamentary election in October 2015 won by the conservative Law and Justice party (PiS).

But the dismissal of PiS treasury minister Dawid Jackiewicz in September, who had been criticised by some PiS politicians for appointing his colleagues as executives and managers in the companies, triggered another wave of personnel changes.

The bourse faces challenges attracting new issuers and raising capitalisation after the government’s plans to cut dividends and increase tax revenues from state-run firms added to the impact of a 2013 pension system overhaul which hit pension funds.

Polish government has a 51.76-percent stake in the exchange, which is vulnerable to government decisions as more than half of the 20 blue chips listed in Warsaw, mostly utilities and banks, also have the state among their shareholders.

Reporting by Anna Koper; Writing Agnieszka Barteczko; Editing by Lidia Kelly

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