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Energy

Polish treasury pressures PKN Orlen for strategy

KRYNICA, Poland, Sept 11 (Reuters) - The Polish government wants PKN Orlen PKNA.WA management to resolve its internal differences quickly and push through a delayed update to its strategy, Deputy Treasury Minister Krzysztof Zuk said.

The comments on Thursday come against mounting speculation that the oil refiner may dismiss Chief Executive Wojciech Heydel and replace him with his state-appointed deputy, Jacek Krawiec, as early as next week.

Daily Parkiet reported on Thursday that Heydel, who was picked to run Poland’s largest company by revenue only four months ago, will tender his resignation at the supervisory board meeting on September 18. Heydel declined to comment.

Deputy Treasury Minister Zuk told Reuters the supervisory board will have to consult on any management changes with the ministry, which represents the state as PKN’s largest shareholder.

“A deep difference in the management board over the strategy is known. From our standpoint a quick approval of the strategy’s update is a priority, as well as a decision on (PKN’s chemical unit) Anwil,” Zuk said.

“The supervisory board is responsible for this (management reshuffle) decision. But in a company such as PKN Orlen the ministry will of course be consulted.”

The state has a majority of representatives on PKN’s supervisory board.

In June the new management promised a quick update to the strategy, but its release is not expected before the end of October.

Poland’s PKN has a long history of government-driven management changes, and the current administration reshuffled the company’s board earlier this year.

Wojciech Heydel is an industry veteran who headed BP’s operations in Poland since they began, and has sat on PKN’s management for four years. (Reporting by Patryk Wasilewski; Editing by Quentin Bryar)

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