Orlen Reshuffle Heralds More Uncertainty for Polish Stock Market

The unexpected leadership shake-ups at Poland’s government-run companies this month signal more changes are likely to come as the new state assets minister has taken the reins.

Under Wojciech Balczun, who replaced Jakub Jaworowski in late July, east Europe’s biggest insurer PZU SA fired Chief Executive Officer Andrzej Klesyk, while the nation’s largest energy group Orlen SA on Wednesday dismissed two management board members, including its chief financial officer, without giving any reasons.