EurOil: Orlen’s meeting of shareholders to seek changes in supervisory board

The agenda for the upcoming extraordinary general meeting (EGM) of the Warsaw-listed Polish energy and fuels giant Orlen assumes voting on changes to the company's supervisory board, the company said in a market filing on January 12.

The motion for changes was submitted by the State Treasury, which holds a controlling stake in Orlen. “As a justification for submitting this motion, I refer to the shareholder's right to shape the composition of the supervisory body of Orlen,” State Assets Minister Borys Budka said in the submitted motion.

The Treasury’s motion has been expected after the takeover of power in Poland by a new government. Prime Minister Donald Tusk has long said that the previous government of Law and Justice (PiS) has excelled in cronyism in state companies.

If you’d like to read more about the key events shaping Europe’s oil and gas sector then please click here for NewsBase’s EurOil Monitor.