No. 23/2020  |  22-04-2020

Mr Daniel Obajtek appointed to the position of the President of the Company’s Management Board for the next term of office

PKN ORLEN S.A. (“Company”) announces that the Minister of the State Assets, acting as an entity authorised to exercise the rights attached to the Company's shares owned by the Polish Stare Treasury, appointed Mr Daniel Obajtek to the Company’s Management Board for the new common term of office, starting from the day coming after the day of termination of the current common term of office of the Company’s Management Board, i.e. after the day of the Ordinary General Meeting that will approve financial statement for 2019. 
Subsequently, the Company’s Management Board appointed Mr Daniel Obajtek to hold the position of the President of PKN ORLEN Management Board during the new common term of office of the Company’s Management Board, starting from the day coming after the day of termination of the current common term of office of the Company’s Management Board.

Mr Daniel Obajtek is a President of the Management Board, Chief Executive Officer of PKN ORLEN since February 6th 2018. Previously, from 2017 to February 2018, Daniel Obajtek served as president of the management board of Energa Group. In 2017, Energa Group’s net profit soared fivefold, and the company was recognised as ‘Company of the Year’ among the names listed in the WIG20 index. Energa Group’s stock price jumped by 38%. In 2016–2017, heading the Agency for Restructuring and Modernisation of Agriculture, Mr Obajtek streamlined the processes related to disbursement of billions of złotys worth of EU and national funds and optimised the cost of the Agency’s operations. From July 2016 to February 2018, he was a member of the supervisory board of LOTOS Biopaliwa.

As President of the Management Board of PKN ORLEN, Mr Obajtek has determinedly pursued the mission of turning it into a multi-utility business. In February 2018, he embarked on a process to acquire control of LOTOS Group. The transaction is to result in a single strong player, capable of competing on foreign markets. Around the middle of 2018, PKN ORLEN launched its largest ever capex projects under the Petrochemicals Development Programme. In parallel, growth capex projects were brought under way at other ORLEN Group companies, involving fertilizer capacity expansion at ANWIL of Włocławek and construction of an eco-friendly glycol unit at ORLEN Południe. In December 2019, PKN ORLEN under Mr Obajtek’s stewardship initiated a process to acquire the Energa Group. The transaction will benefit both companies, while furthering PKN ORLEN’s strategic plans to develop zero- and low-carbon energy sources.

Daniel Obajtek also set in motion a new policy of diversifying oil supplies for the ORLEN Group, by forging and strengthening relations with suppliers from outside Europe, including Africa and the Persian Gulf. These measures allow it to obtain a favourable mix of crudes for processing, optimising production with positive effects on the final quality and price of the Group’s products and overall stability of the market.

The past two years witnessed development of the ORLEN Group’s retail chain. There were also implemented some intensive upgrade work to raise the standard of service and enhance the non-fuel offering. In 2019, a co-branding project was implemented at stations in Germany, the Czech Republic and Slovakia.

Daniel Obajtek has completed the Executive MBA programme run by the Gdańsk Foundation for Management Development and validated by IAE Aix-Marseille Graduate School of Management. He is a member of the Programme Council of the Economic Forum in Krynica and chairman of the Board of the Polish Olympic Committee.

He has won a range of prestigious awards, notably the Polish Compass 2018. He was also named President of the year 2018 in the 25th edition of the Bulls and Bears award of Gazeta Giełdy i Inwestorów Parkiet. In 2019, he was awarded the Lech Kaczyński Prometheus Award. From the Judging Panel of the Employers of Poland, he received the Vector 2019 award. In 2020, readers of the Parkiet daily voted him Star of the Year 2020. In the ‘The Most Reliable in Polish Economy’ ranking by the ISB News agency, he received a statuette of the Most Reliable CEO.

Mr Daniel Obajtek submitted the statement that upon taking up the position of the President of PKN ORLEN Management Board  for the new term of office he will not be involved in any activity competitive with PKN ORLEN S.A. and will not be partners of any competitive civil law partnership, partnership, capital company, will not be a member of any board of a competitive capital company. 

Mr Daniel Obajtek also stated that he is not on the list of insolvent debtors kept on record on the National Court Register Act.