June 14, 2017 / 12:23 PM / 6 months ago

Poland's Pekao dismisses long-serving Italian CEO

WARSAW, June 14 (Reuters) - Supervisory board at Poland’s second-largest lender Bank Pekao SA dismissed on Wednesday its Chief Executive Officer Luigi Lovaglio following a takeover by state-run entities of the bank from Italian UniCredit.

The bank said in a statement that former CEO at Poland’s biggest insurer PZU SA, Michal Krupinski, was named deputy CEO at Pekao.

Krupinski served as PZU CEO at the time when the state-run insurer along with the state-controlled fund PFR decided to buy a decisive stake at Pekao. (Reporting by Marcin Goclowski; Editing by Lidia Kelly)

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