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Polish stock exchange CEO quits after failing to get approval
March 13, 2017 / 8:10 PM / 9 months ago

Polish stock exchange CEO quits after failing to get approval

WARSAW, March 13 (Reuters) - The chief executive officer of Poland’s state-run stock exchange quit on Monday just over two months since his appointment after failing to be approved by the country’s financial regulator.

The bourse said in a short statement that Rafal Antczak, who was appointed CEO by shareholders on Jan. 4, had resigned for personal reasons. But it also said Antczak’s appointment had been conditional on the shareholder’s resolution.

“The resolution did not come into force due to the lack of decision of the Polish Financial Supervision Authority ... which was a condition of entry into force of this resolution,” the bourse said without providing further detail.

Antczak, a respected economist, is one of the best known figures in the Polish business world.

The Polish state has a 51.76 percent stake in the exchange and more than half of the 20 blue chips listed in Warsaw, mostly utilities and banks, also have the state among their shareholders. (Reporting by Lidia Kelly; editing by David Clarke)

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