Changes in the Management Board of ORLEN S.A.

ORLEN S.A. (“Company”) announces that on 10 April 2024 the Company’s Supervisory Board appointed Mr Ireneusz Fąfara with effect from 11 April 2024 for the position of President of the Company’s Management Board for the common term of office, which ends on the date of the Ordinary Shareholders Meeting that will approve the Company’s financial statement for 2025.

At the same meeting the Company’s Supervisory Board entrusted Mr Witold Literacki, appointed to the Company’s Management Board by the Minister of the State Assets, according to § 9 item 1 point 3 of the Company’s Articles of Association, the duties of the Vice-president of the Management Board for Corporate Affairs and the function of the first deputy of the President of the Company’s Management Board with effect from 11 April 2024.

Moreover the Company’s Supervisory Board decided to terminate with immediate effect the period of delegation of the member of the Company’s Supervisory Board, Mr Ireneusz Sitarski for temporary acting as a member of the Company’s Management Board.

 

Mr Ireneusz Fąfara

Expert with excellent knowledge of the fuel sector and the challenges related to the energy transformation. Practitioner of managing large organizations and multi-billion projects. 

From 2010 to 2017 he was associated with ORLEN Group. As President of the Management Board of ORLEN Lietuva he reformed the company and brought the Mažeikiai refinery to profitability. He worked out agreements and ended long-standing disputes related to logistics. He significantly increased ORLEN Lietuva's sales in export markets. He has knowledge of the specifics of the ORLEN Group and the processes taking place within it.

He has held top management positions in large public and private companies since the late 1990s. 

Member of the supervisory boards: Rockbridge TFI (2018 - 2024 resigned on the day of his appointment as President of the Management Board of ORLEN S.A. ), PKO BP (2009 - 2010), LOTOS (2009 - 2010), Export Credit Insurance Corporation (2007 - 2009), Kompania Węglowa (2003 - 2005), National Health Fund (2005 -2008), Energy Market Agency (1997 - 1998). 

President of the Management Board of Bank Gospodarstwa Krajowego (2007 - 2009) and Vice-President of the Management Board of the Social Insurance Institution (1998 - 2007). 

Graduate of the Cracow University of Economics.

 

Mr Witold Literacki

Mr Witold Literacki is a graduate of the University of Silesia, Faculty of Social Sciences, from which he graduated in 1994 and an MBA from the Lublin Business School in cooperation with the University of Central Lancashire in the UK in 2006. An expert in the field of finance and taxes. He has been professionally involved in the fuel and energy industry for many years. He gained managerial experience in both foreign and Polish companies, including PKN ORLEN. 

From 2022 to 2023, he served as financial director at PERN SA. Prior to that, he was employed as financial director at Warszawskie Zakłady Mechaniczne PZL- WZM w Warszawie SA from 2020 to 2022. From 2008 to 2020, he was director of the tax office at PKN ORLEN SA. From 2007 to 2008- tax manager at RWS Stoen SA. From 1999 to 2007- senior manager for tax control at Carrefour Polska Sp. z o.o.. From 1997 to 1999, he was employed as a consultant by Arthur Andersen Sp. z o.o. From 1991 to 1997, he was an inspector in the tax control department of the Tax Office in Zabrze.

 

Mr Ireneusz Fąfara submitted statement that he has resigned, with effect on 10 April 2024, from his position as a member of the Supervisory Board of Ukrnafta, a company with registered office in Kiev, which conducts activities competitive to ORLEN S.A. The resignation will be subject to the next General Meeting of Ukrnafta. Mr Fąfara is not involved in any other 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. 

Mr Ireneusz Fąfara also submitted statement that he is not on the list of insolvent debtors kept on record on the National Court Register Act.

 

Mr Witold Literacki 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.