Termination of the service agreement within the management by the President of ENEA S.A.

Today, i.e. 27 September 2012 the President of ENEA S.A., Maciej Owczarek, terminated the agreement on management of ENEA S.A. The Chairman of the Supervisory Board of ENEA S.A. was informed of that fact. The meeting of the Supervisory Board is planned for Monday, 1 October. The motives of the decision of Mr. Maciej Owczarek are mainly personal.

„The moment runs parallel with the termination of an extremely important process, guaranteeing a further development of the Company, i.e. conclusion of an agreement on the construction of a new power unit in Kozienice  A doubtless success which was signing of the aforementioned document was preceded with the conduction of a unique in Poland Bond Issue Programme which will allow for the realisation of the long-term strategy of the Group's development and therefore realisation of the investment.

The Company managed by me for over three years has continuously evaluated during that time, undergone (and still undergoes) necessary restructuring processes at the level of generation, sales and distribution of electricity aiming at increasing the whole ENEA Capital Group's value and strengthening of its position in the power sector. Year over year the basic economic parameters grew by a dozen or so per cent. An important and perspective link of the Group's operations became commitment in projects connected with a construction of the first Polish atomic power plant and extraction of shale gas.

I leave the Capital Group in a perfect financial position and with a feeling of a well fulfilled duty."

Managing the company and the Capital Group from June 2009 Maciej Owczarek conducted due-diligence processes and sales of 16.05 per cent shares belonging to the State Treasury in the full market offer. He initiated the ENEA 2010+ programme which aims at the optimisation of the operational and strategic management in the ENEA Capital Group in numerous fields of operation and improvement of the efficiency of functioning of the ENEA CG.  

Holding the position of the President of the Board of ENEA S.A. Maciej Owczarek gained numerous awards and distinctions. In 2012 ENEA S.A. as one of nine companies leaded by the President Maciej Owczarek received a Golden Statuette of 2011 Polish Business Leaders. Maciej Owczarek, the President, found his place among the TOP 20 Best Managers in Times of Crisis by Bloomberg Businessweek Poland.