Embattled mining giant has new chief executive
PR dla Zagranicy
Nick Hodge
15.12.2014 10:24
Krzysztof Sedzikowski has been named the chief executive of struggling firm Kompania Weglowa, the largest coal mining company in Europe.
Photo: Wikipedia
Photo: sxc.hu
The company's supervisory board picked Sedzikowski as CEO shortly after naming him acting chief executive. Directly before that, he was a member of the supervisory body.
Sedzikowski had earlier been at the helm of copper mining group KGHM Polska Miedz, chemical firm Boryszew and metals firm Impexmetal. In 2004-2010 he was CEO of CTL Logistics.
The mining giant's previous chief executive, Miroslaw Taras, was dismissed in November for failed attempts at restructuring the company. He also got himself into trouble by openly criticizing the Polish mining sector and calling its restructuring bid the “resuscitation of a corpse.”
Kompania Weglowa has been in a difficult financial situation for a considerable time. In the first half of 2014, the company recorded a net loss of 342.7 million zloty (81.8 million euro) compared to 228.7 million zloty (54.6 million) in losses a year earlier.
In mid September then-CEO Miroslaw Taras said that only three out of the company's 14 mines were profitable. (kw)
Source: PAP