Revolution in State Treasury companies. MAP introduces the Code of Good Practices

The Code of Good Practices for Corporate Governance in State Treasury companies, prepared by the Ministry of State Assets, emphasizes political neutrality and competences, informed the Minister of Assets, Wojciech Balczun, presenting the assumptions of the document.

As Balczun said at a press conference on Monday, the Code provides that in the performance of their duties, members of supervisory boards and management boards of companies are to remain politically neutral, not to manifest political affiliation and to behave independently of political influences.

– Coherent supervision rules are intended to make the state a professional and active owner. We do not disturb the principles of corporate governance, emphasized the minister.

He noted that the code introduces clear, transparent and modern management standards in companies with State Treasury shareholding, but also in their subsidiaries. – The point is not to focus on the main areas, but to go deeper and implement these principles to the widest possible extent – emphasized Balczun. – We still have an amendment to the Act on State Property Management, which will raise the requirements and expectations mainly towards members of supervisory boards – he added.

As he noted, the government will strive to change, where necessary, the profile of people sitting on supervisory boards, so that, for example, only lawyers do not sit on them.

– We recognize that we need lawyers, economists and industry experts who know the specifics. We also want to draw from people with unquestionable authority and experience, perhaps no longer professionally active, but with undisputed successes – emphasized the minister. In his opinion, in most cases, professionalization in State Treasury companies is progressing, which is confirmed by the market pricing of these companies. – We regained trust through much more professional management of property managed by the state – said the minister.

The Code of Good Corporate Governance Practices in State Treasury companies was signed by Prime Minister Donald Tusk last week. (PAP)

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