Polish Billionaire’s Family Row Irks Pension Fund as Stock Drops
- Solorz ousts sons from supervisory board of utility ZE PAK
- Shares in utility as well as Cyfrowy Polsat extend losses
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Polish billionaire Zygmunt Solorz ousted his two sons from his utility, deepening a family feud over control of his conglomerate, driving down valuations and raising concerns for a leading minority investor.
Solorz’s investment vehicle, which controls Warsaw-listed power producer ZE PAK SA, voted out Tobias Solorz and Piotr Zak from the firm’s supervisory board at a shareholder meeting on Monday. The stock fell as much as 3.3% and is heading for its lowest closing level since 2022.