The Statement of the Supervisory Board of PKN ORLEN
PKN ORLEN informs that on June 29, 2004, the Supervisory Board of PKN ORLEN has released an announcement:
“The Supervisory Board has been handed in a letter, addressed to the Supervisory Board of PKN ORLEN, from Mr Zbigniew Wrobel, CEO and President of PKN ORLEN. The letter has informed that due to the recent media speculation and political controversy surrounding PKN ORLEN and its Management Board, which adversely affects both the creation of the shareholder value of PKN ORLEN and the interest of PKN ORLEN, he has expressed his intention to step down.
As a result, the Supervisory Board has initiated moves to appoint a new CEO in accordance with best international practice; to this extent, the Supervisory Board will appoint an executive search consultancy.
Mr Zbigniew Wrobel's resignation will be approved subject to confirmation of the appointment of a new CEO of PKN ORLEN.
All decisions of the Supervisory Board were taken unanimously.”
In the light of the above, PKN ORLEN explains, that the dismissal of Mr Zbigniew Wrobel from the position of CEO and President of PKN ORLEN has not taken place. Mr Zbigniew Wrobel has remained in office as CEO and President of PKN ORLEN. The members of the Supervisory Board have acknowledged the statement of Mr Zbigniew Wrobel of his intention to resign from his position and at the same time they have undertaken activities which are to appoint a new President of the Management Board of PKN ORLEN.
