Poland's second-biggest bank Pekao names Cezary Stypulkowski as CEO

Mbank SA

10/07/2024 06:32

GDANSK, July 10 (Reuters) - Poland's second-biggest bank
Pekao  PEO.WA  has named Cezary Stypulkowski as its new chief
executive officer, it said on Tuesday, following more than two
months of no one at its helm.
    Cezary Stypulkowski, who had led Commerzbank's  CBKG.DE 
Polish unit mBank  MBK.WA  for more than 14 years until his
resignation last week, is to start his new role no sooner than
October. 
    The nomination has yet to be approved by Poland's Financial
Regulator KNF. 
    Pekao's supervisory board also appointed Robert Sochacki and
Dagmara Wojnar as deputy chief executive officers. 
    The decision came after a 61-day interregnum in which the
bank's supervisory board had dismissed six members of
management, with ex-CEO Leszek Skiba losing his seat after more
than four years in the role. 
    Pekao, with $11.2 billion of market capitalisation, is
indirectly controlled by Poland's Treasury via insurer PZU
 PZU.WA  and Polish Development Fund Group (PFR), which together
hold almost 33% stake in the lender. 
    It is yet another state-owned bank that has seen changes to
its board composition as Poland's new government seeks to
restructure the leadership of companies it controls. 

 (Reporting by Mateusz Rabiega; Editing by Tom Hogue)
 ((Mateusz.Rabiega@thomsonreuters.com; +48 58 769 67 57;))