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Supervisory Board Delegates Sitarski to ORLEN Board Following Sójka’s Resignation

COMPANIESSupervisory Board Delegates Sitarski to ORLEN Board Following Sójka's Resignation

The Supervisory Board of ORLEN has delegated Mr. Ireneusz Sitarski to temporarily perform the functions of a board member of ORLEN. The board’s decision will take effect from February 17 and is the result of Mr. Tomasz Sójka’s resignation from the Supervisory Board effective February 16.

Mr. Ireneusz Sitarski is a master of economics, a graduate of the Faculty of International Trade of the Main School of Planning and Statistics (currently the Warsaw School of Economics).

He specializes in financial advising, restructuring, mergers, and acquisitions of companies. In his thirty-year practice, he has held managerial positions in commercial law companies, twice as the Undersecretary of State in the Ministry of Ownership Transformations and the Ministry of the State Treasury. As an economic advisor, he developed privatization strategies, analyses, and valuations for state-owned companies. He managed projects restructuring difficult and threatened loans in Polish banks. He served as the president of the company managing the National Investment Fund, implementing restructuring projects and supervising and conducting company buy and sell transactions.

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

He participated in managing commercial law companies, including those listed on the Warsaw Stock Exchange, such as NFI Foksal SA, Impexmetal SA. As a board member – director of trade at Impexmetal SA, an industrial group in the non-ferrous metal processing sector, he coordinated and managed trade policy.

Mr. Ireneusz Sitarski also has many years of experience as a member and chairman of the supervisory boards of commercial law companies, including such companies as Telekomunikacja Polska SA, the Warsaw Stock Exchange SA, Polskie Towarzystwo Ubezpieczeń SA, Bank Gospodarki Żywnościowej SA, Dwory SA (currently Synthos SA), Huta Aluminum Konin SA, PESA Bydgoszcz SA, and many others.

From February 17, the ORLEN Board will consist of:

  • Witold Literacki, acting President of the Board,
  • Kazimierz Mordaszewski, a delegate of the Supervisory Board temporarily performing the duties of a Board Member,
  • Ireneusz Sitarski, a delegate from the Supervisory Board temporarily performing the duties of a Board Member,
  • Józef Węgrecki, Board Member,
  • Tomasz Zieliński, a delegate from the Supervisory Board temporarily performing the duties of a Board Member.
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