Poland's CD Projekt shareholders set management 4 bln zloty 2025-28 profit target (updated)
28/11/2024 11:10
(Adds details in paragraphs 3-7)
GDANSK, Nov 28 (Reuters) - Shareholders of Poland's biggest video game
maker CD Projekt CDR.WA have set an earnings condition of 4 billion zlotys
($978.21 million) in accumulated net profit in 2025-2028 under a management
incentive programme, voting results showed on Thursday.
In a draft resolution, CD Projekt's management called the target "ambitious"
and said its achievement would depend on the effective implementation and
commercial success of the group's planned projects.
It added that the goal was consistent with shareholders' interests since
achieving it would help bolster the company’s value, including the price of its
shares, which were trading at around 165 zlotys each on Thursday.
CD Projekt's shareholders in February set an earnings condition that called
for the achievement of 3 billion zlotys in accumulated net profit in 2024-27.
At the company's general meeting on Thursday, shareholders also adopted a
resolution to appoint, among others, Adam Kiciński to the supervisory board from
Jan. 1. Kiciński has been with CD Projekt almost since its inception in 1994,
serving as CEO between 2010 and 2023 before becoming chief strategy officer at
the beginning of this year.
It was also decided that the supervisory board can split the role of
chairman between two co-chairs, which the management said would allow more
effective supervision and a better distribution of responsibilities.
($1 = 4.0891 zlotys)
(Reporting by Rafal W. Nowak and Adrianna Ebert; Editing by Toby Chopra,
Kirsten Donovan)
((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))