Mr Ireneusz Sitarski has been delegated for temporary acting as a member of ORLEN’s Management Board

 

ORLEN S.A. (“Company”) announces that on February, 16th 2024 the Company’s Supervisory Board decided to delegate with effect from February, 17th 2024 Mr Ireneusz Sitarski, member of the Company’s Supervisory Board for temporary acting as a member of ORLEN’s Management Board, by the time of appointment of the Management Board member for that position, providing that no longer than for three months.

 

Mr Ireneusz Sitarski

 

Since February, 6th 2024 Member of ORLEN’s Supervisory Board.

 

Master's degree in economics, graduate of the Faculty of Foreign Trade at the Main School of Planning and Statistics (now the Warsaw School of Economics) in Warsaw.

Economic advisor specializing in financial consulting, restructuring, mergers and acquisitions of companies. In thirty years of practice, he held management positions in commercial law companies, twice as Undersecretary of State at the Ministry of Ownership Transformation and the Ministry of the Treasury.

He carried out consulting projects, developed privatization strategies, analyses and valuations for state-owned enterprises. He led projects to restructure troubled and non-performing loans in Polish banks. He served as president of the management company of the National Investment Fund, implementing restructuring projects, and supervised and conducted transactions for the purchase and sale of companies.

In government administration, he transformed state-owned enterprises into companies of the State Treasury, supervised their operations and led the process of selling shares to strategic or financial investors in such sectors as fuel, energy, gas, banking, insurance, gaming, among others.

He participated in the management of commercial law companies, including those listed on the Warsaw Stock Exchange, such as NFI Foksal SA, Impexmetal SA. While serving as a member of the Management Board - commercial director at Impexmetal SA, which was an industrial group in the non-ferrous metals processing sector, he coordinated and managed commercial policy.

He has many years of experience as a member and chairman of the supervisory boards of commercial companies, including such companies as Telekomunikacja Polska SA, Giełda Papierów Wartościowych SA, Polskie Towarzystwo Ubezpieczeń SA, Bank Gospodarki Żywnościowej SA, Dwory SA (now Synthos SA), Huta Aluminium Konin SA, PESA Bydgoszcz SA and many others.

He was a candidate in 2018 in the elections to the Mazovian Regional Assembly, in 2019 in the elections to the European Parliament and the Parliament of the Republic of Poland.

Married, he has two adult children.

 

Mr Ireneusz Sitarski submitted statement that he is not involved in any activity competitive with ORLEN S.A. and is not a partner of any competitive civil law partnership, partnership, capital company, is not a member of any board of a competitive capital company. He also stated that he is not on the list of insolvent debtors kept on record on the National Court Register Act.