Poland's Grupa Azoty ousts CEO Skolmowski after less than year on the job (updated)

Grupa Azoty SA

12/02/2026 12:49

Adds context in paragraph 2, ministry statement in paragraph 3, analyst comment in paragraph 4

By Rafal Wojciech Nowak and Alicja  Surdy

GDANSK, Poland, Feb 12 (Reuters) - Poland's Grupa Azoty ATTP.WA has dismissed CEO Andrzej Skolmowski, in the role since June 2025, and two other management board members, the chemicals group said on Thursday.

Azoty has been in financial trouble since late 2022 due to high gas prices, cheap fertilizer imports from Russia and Belarus, and cost overruns at its flagship polymer production project.

Poland's Ministry of State Assets, Azoty's largest shareholder, said in a statement published on its website that it planned to recapitalize the group, and that the supervisory board expected a new management to bring Azoty closer to an agreement with its creditors.

"The group's situation is still very difficult," Erste analyst Jakub Szkopek told Reuters. He also noted the CEO ouster follows recent management changes in other state-controlled companies such as KGHM KGH.WA and JSW JSW.WA.

Azoty's supervisory board has tasked vice chair Aleksandra Machowicz-Jaworska to perform the CEO duties for up to three months starting Friday, the regulatory filing showed.

(Editing by Milla Nissi-Prussak)

((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))