CEO Gets the Sack at PKO

11th July 2009

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Jerzy Pruski, the CEO of Poland's state-controlled PKO BP bank, was given the sack on Tuesday in a surprise move by the bank's supervisory board.

The firing came just a week after he received a vote of approval during the bank's annual shareholder meeting.

Pruski had been running the bank for just over a year. The acting CEO will be Wojciech Papierak, previously the bank's deputy chief executive for retail banking.

No reason was given for the firing, but the board had fought Pruski's government-backed proposal to pay out all of last year's profits in dividends. Shareholders backed the plan at their annual meeting on June 30, but the board opposed it.

Poland's central bank also ...

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