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Current Report No. 27/2010

Title: Changes to the composition of the Management Board of ENEA S.A.
Date: 2010.17.04
Report no.:  Current Report No. 27/2010

Current Report No. 27/2010

Date prepared: 17.04.2010

Short name of issuer: ENEA S.A.

Subject: Changes to the composition of the Management Board of ENEA S.A.

Legal basis: Article 56 par. 1 pt. 2 of the Act on Public Offerings - current and periodic information

Content of report:

Acting pursuant to Clause 5 par. 1 pt. 21 and pt. 22 of the Regulation of the Minister of Finance on current and periodic information [...] of 19 February 2009 (the “Regulation"), the Management Board of ENEA S.A. announces that on 16 April 2010, the Supervisory Board of the Issuer adopted resolution regarding the following:

- the removal of Mr Maciej Owczarek, the President of the Management Board of ENEA S.A. for the 6th term, from the Management Board of ENEA S.A.,

- the appointment, with effect from 16 April 2010, of Mr Maciej Owczarek to the position of President of the Management Board of ENEA S.A. for the 7th term,

- the removal of Mr Marek Malinowski, the Member of the Management Board of ENEA S.A. for Strategy and Development for the 6th term, from the Management Board of ENEA S.A.,

- the appointment, with effect from 16 April 2010, of Mr Krzysztof Zborowski to the position of Member of the Management Board of ENEA S.A. for Strategy and Development for the 7th term,

- the removal of Mr Sławomir Jankiewicz, the Member of the Management Board of ENEA S.A. for Business Affairs for the 6th term, from the Management Board of ENEA S.A.,

- the appointment, with effect from 16 April 2010, of Mr Hubert Rozpędek to the position of Member of the Management Board of ENEA S.A. for Business Affairs for the 7th term,

- the removal of Mr Tomasz Treider, the Member of the Management Board of ENEA S.A. for Commercial Affairs for the 6th term, from the Management Board of ENEA S.A.,

- the appointment, with effect from 16 April 2010, of Mr Maksymilian Górniak to the position of Member of the Management Board of ENEA S.A. for Commercial Affairs for the 7th term,

- the removal of Mr Piotr Koczorowski, the Member of the Management Board of ENEA S.A. for Corporate Affairs for the 6th term, from the Management Board of ENEA S.A.,

The information concerning Mr Maciej Owczarek as required by the provisions of the Regulation was provided in Current Report No. 32/2009 of 22 May 2009 and remains valid as of the day on which this report is submitted.

Mr Hubert Rozpędek has completed higher education, having graduated from the Academy of Economics in Poznań, Faculty of Management, Management and Marketing stream, specialising in Corporate Finance and Accounting.

His professional experience is as follows:

From January 2010 - COMPLEX S.A. with its registered Office in Łódź, a company listed on the Warsaw Stock Exchange - Finance Director of the capital group, President of the Management Board of COMPLEX FINANCE Sp. z o.o.:

- introducing uniform standards in the area of accounting and finance in 11 companies belonging to the capital group - entities operating in the following countries: Poland, Ukraine, Austria,

- restructuring in the field of finance, i.e. operating costs, costs of financing operations,

- creating a joint services centre for companies belonging to the capital group - i.e., accounting, human resources and payroll,

- optimising the structure of the capital group - mergers, acquisitions.

September 2004 to December 2009 - TP TELTECH Sp. z o.o. with its registered office in Łódź, a company belonging to the TP S.A. capital group - Member of the Management Board for Financial Affairs (CFO):

- successful completion of the restructuring of the company on the instructions of the Management Board of TP S.A. within the framework of the concept for changing the structure of the TP S.A. capital group

- responsible for investor relations,

- introduction of internal procedures as well as mechanisms optimising the use of company resources,

- implementation of changes in the organisational structure and in the job evaluation process,

- successful implementation of new ERP system,

- dynamic growth of the company - increase in revenues of 77% in 2007/2006 as well as significant improvement in financial results.

December 2003 to December 2004 - Radomska Wytwórnia Telekomunikacyjna S.A. with its registered office in Radom, a company belonging to the TP S.A. capital group, other significant shareholders: Ericsson, Computerland, Mescomp - Vice President of the Management Board for Financial Affairs (CFO):

- restructuring of the company on the instructions of the shareholders,

- responsible for investor relations,

- organisational restructuring - pro-sales and pro-production change in organisational structure,

- introduction of cost control system and budgeting process,

- conduct of tax audit, the effect of which was a significant reduction in the CIT assessment base,

- debt restructuring - by means of bankruptcy with the possibility of concluding an arrangement with creditors, negotiations with creditors (banks, suppliers).

September 1998 to March 2004 - Triton Development S.A. with its registered office in Warsaw (previous name: AS MOTORS, 7BULLS.com), a company listed on the Warsaw Stock Exchange - last position held: Vice President of the Management Board - Finance Director:

- organisational restructuring - optimisation through creation of holding company structure,

- financial restructuring of company - including conversion of debt into long-term obligations with partial debt cancellation, reduction in company operating costs,

- group and company strategy - joint formulation,

- budget - supervision of preparation and oversight of implementation,

- company liquidity management,

- analysis of effectiveness of investment,

- management of exchange rate and interest rate risk,

- oversight of settlements with suppliers and clients, debt collection,

- controlling as well as creation and implementation of internal procedures,

- cooperation with financial institutions - banks, brokerages,

- responsible for investor relations, contacts with Warsaw Stock Exchange, Securities and Exchange Commission (Financial Supervisory Authority) as well as shareholders,

- participation in IPO process as well as on-going preparation of reports for the Securities and Exchange Commission (Financial Supervisory Authority),

- cooperation with the auditors,

- preparation of regular reports for the needs of the Management Board and Supervisory Board of the company.

September 1996 to September 1998 - STAR FOODS S.A. - Tomaszów Mazowiecki - one of the market leaders on the savoury snack market, company with Greek capital - business analysis and budgeting specialist:

- participation in preparation of company budget and oversight of budget implementation,

- examining effectiveness of investment,

- analysis of technology process costs - introduction of mechanisms for attribution of production costs to individual products,

- analysis of product profitability,

- calculation of domestic and export prices,

- systematizing economic and financial data for management accounting purposes,

- preparation of economic and financial analyses.

Mr Hubert Rozpędek holds a licence issued by the Ministry of Finance for the provision of accounting services (No. 27667/01) as well as a licence (level II) issued under the Act on the protection of persons and property, which authorises him to serve on the management board of a company operating in the field of protecting persons and property (No. 0069766). He is a graduate of the Finance Directors Programme - Corporate Financial Management organised by the International Foundation for the Development of the Capital Market and Ownership Transformations in the Republic of Poland - BiF Privatisation Centre. He has completed various courses and training programmes in finance and accounting, tax legislation, use of software applications, including financial-accounting applications, and human resources management.

Mr Hubert Rozpędek is not engaged in any activities whatsoever which would constitute competition against ENEA S.A., he does not participate in any competing enterprise as a civil law partnership or any other form of partnership or as a member of a corporate body of a limited company, nor does he participate in any other competing legal person as a member of any of its corporate bodies. Moreover, Mr Hubert Rozpędek is not listed in the Insolvent Debtors Register maintained pursuant to the Act on the National Court Register.

Mr Krzysztof Zborowski has completed higher education, graduating from the Faculty of Mechanics and Power Engineering at Wrocław University of Technology with a master’s degree in mechanical engineering, specialising in thermal energy.

His professional experience is as follows:

- from 2008 - Elektrownia "Kozienice" S.A. - Member of the Management Board for Technical Affairs, President of the Management Board, Member of the Management Board for Technical Affairs,

- 2007 - 2008 - Elektrownia "Kozienice" S.A. - Technical Director, Management Board representative tasked with the establishment of a new organisational unit, the Department of Operations

- 1985 - 2007 - Elektrownia "Kozienice" S.A - duty operations engineer

- 1983 -1985 - "Kozienice" power plant - duty manager of 200MW power units

- 1982 - Reserve Officer Cadet School in Oleśnica

- 1981 - "Kozienice" power plant - technical assistant (intern) first supervisory engineer 200MW power units.

Work abroad:

- 1987 - 1988 Elektrim El. Bokaro, India - operations and re-fitting manager for 2x65 MW power units

- 1989 - 1990 Aalborg Boilers El. Suez, Egypt - commissioning engineer, manager of 4x20 MW power units

- 1993 - Abb Numberg Turbinen El. Khartoum, Sudan - commissioning engineer, manager of 60 MW power unit

- 1995 - Ansaldo Energia El. Assiut, Egypt - director of testing, manager of 450 MW power unit

- 1997 - Ansaldo Energia El. Kozani, Greece - director of testing, manager of 450 MW power unit

- 1999 - Austrian Energia El. Plomin, Croatia - commissioning engineer, 500 MW power unit

- 2000 - Babcock Borsig Power El. Vasilikos, Cyprus - commissioning engineer, 120 MW power unit

- 2004 - Turbomach S.A., Switzerland - commissioning engineer for CCPP power plant in Starachowice with thermal capacity of 38 MWe and electrical capacity of 38 MWt.

Training:

-1978 - Szwajcaria Sulzer Brothers Ltd, turbine regulation system diagnostics

-1993 - Wilington power plant, UK, “Plant Life Extension," coal-fired power plant modernisation

-1994 - Training and successful completion of exam in serving as a supervisory board member of one-person companies belonging to the State Treasury

2004 - Bydgoszcz - course in managing rescue teams and operations

Mr Krzysztof Zborowski is not engaged in any activities whatsoever which would constitute competition against ENEA S.A., he does not participate in any competing enterprise as a civil law partnership or any other form of partnership or as a member of a corporate body of a limited company, nor does he participate in any other competing legal person as a member of any of its corporate bodies. Moreover, Mr Krzysztof Zborowski is not listed in the Insolvent Debtors Register maintained pursuant to the Act on the National Court Register.

Mr Maksymilian Górniak - graduated in law from the University of Silesia in 1997 with the degree of master of laws. After graduating, he successfully completed the bar traineeship programme, qualifying as an attorney at law. From 2004 - partner in law firm The firm mainly works for entities operating in the energy, electric power and mining sectors. As an attorney at law, he has participated in the realisation of many significant undertakings in these sectors. Issues connected with energy trading are a particularly important area of his work. In addition, he possesses experience in managing large business entities. In 2009/2010, he was a member of the Management Board of ZPUE S.A., a company listed on the Warsaw Stock Exchange.

Mr Maksymilian Górniak is not engaged in any activities whatsoever which would constitute competition against ENEA S.A., he does not participate in any competing enterprise as a civil law partnership or any other form of partnership or as a member of a corporate body of a limited company, nor does he participate in any other competing legal person as a member of any of its corporate bodies. Moreover, Mr Maksymilian Górniak is not listed in the Insolvent Debtors Register maintained pursuant to the Act on the National Court Register.

Having in mind the diverse and international nature of Enea SA's shareholding, and also the provisions of the Best Practices of WSE Listed Companies, Enea SA guarantees the availability of its website also in English. In case of any interpretation doubts and discrepancies between the Polish and English versions, the Polish version shall prevail.