Polish Banking Veteran Jagiello Suddenly Quits State-Run PKO
- CEO submitted resignation effective June 7 without explanation
- Shares in Poland’s biggest bank slump most in more than a year
Zbigniew Jagiello
Photographer: Artur Widak/NurPhoto/Getty Images
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Zbigniew Jagiello unexpectedly quit as chief executive officer of PKO Bank Polski SA after serving almost 12 years at the helm of Poland’s largest lender.
The decision sent shares in the state-run lender down more than 9% on Tuesday and fueled speculation that a long-running power struggle in the ruling coalition forced the resignation of one of Prime Minister Mateusz Morawiecki’s closest allies. PKO didn’t give a reason for the CEO’s departure, effective June 7.