Deputy head of MAP: The JSW Management Board will apply for a reduction in its remuneration

Due to the difficult financial situation of JSW, members of the company's management board will apply for a reduction in their remuneration, Grzegorz Wrona, Deputy Minister of State Assets, announced on the X platform. He indicated that MAP, as the majority shareholder, will request the convening of the General Meeting in order to adopt a resolution on reducing the remuneration of Supervisory Board members.

“Due to the difficult financial situation of JSW, members of the company's management board will request a reduction in their remuneration so that they are adjusted to the current financial realities of the company. This decision was made unanimously by all members of the management board, despite the fact that it operates in a reduced, four-person composition, and not six as was the case previously,” wrote Grzegorz Wrona.

He said that this action is an expression of responsibility and solidarity of the company's management with its employees and is an element of broader activities aimed at stabilizing the financial situation of JSW.

“In addition, MAP, as the majority shareholder, will request to convene a general meeting in order to adopt a resolution on reducing the remuneration of members of the supervisory board,” he wrote.

“I would also like to emphasize that the positive result of the referendum on the adoption of the recovery program will stabilize the liquidity situation in the company, which will help avoid other scenarios, including statutory restructuring,” he added.

On Thursday, February 12 this year. A referendum will be held among the staff of Jastrzębska Spółka Węglowa regarding the draft agreement suspending some employee benefits. The consent of the staff is intended to enable the company to obtain the necessary external financing and avoid hard statutory restructuring. (PAP Business)

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