2026-01-31 14:30
publication
2026-01-31 14:30
The Office of the Polish Financial Supervision Authority is assessing whether there has been a violation of the regulations in connection with the earlier disclosure of information regarding changes in the management board of KGHM Polska Miedź – said Jacek Barszczewski, spokesman for the Polish Financial Supervision Authority, on Saturday. On Friday, the supervisory board of KGHM dismissed the president and vice-president of the company.
“The PFSA Office is taking steps to assess the correctness of the fulfillment of information obligations regarding changes in the management board of KGHM SA, including whether there have been any violations related to unauthorized prior disclosure of information in this matter,” Barszczewski said on the X website.
Scandal around KGHM. The MP revealed key changes ahead of the official announcement
The Warsaw Stock Exchange went viral over a post on social media. Robert Kropiwnicki, an MP from the Civic Coalition and until recently the deputy minister of state assets, caused a storm by informing about changes in the management board of KGHM Polska Miedź before the company itself did so.
On Friday, the supervisory board dismissed the president of KGHM, Andrzej Szydło, and the vice-president of the management board for corporate affairs, Piotr Stryczek. The company also announced that a resolution was adopted to delegate Remigiusz Paszkiewicz, a member of the supervisory board, to temporarily perform the duties of the president of the management board of KGHM and vice-president for corporate affairs. According to the announcement, Paszkiewicz will perform the duties entrusted to him until the qualification proceedings for the positions of President of the Management Board of KGHM and Vice-President of the Management Board for Corporate Affairs, but no longer than three months.
The company announced personnel changes in the current report at 12:11, while earlier, at 9:47, former deputy minister of state assets and KO MP Robert Kropiwnicki posted an entry on the X platform criticizing the decisions of the supervisory board, which changed the composition of the company's management board. “Today, the Supervisory Board of KGHM dismissed President Andrzej Szydło and Vice-President Piotr Stryczek, this is a bad and incomprehensible decision of the people newly appointed to the board. This is very bad news for the company and the region,” wrote Kropiwnicki.
Approximately At 10 a.m. on Friday, the price of the copper company began to drop rapidly, reaching a minimum after 11, when the price for one share was PLN 333.5, which is a drop of over 10% compared to the reference price. Ultimately, KGHM shares ended the session at PLN 332.10, after a decline of 10.7%.
On Friday, the Polish Financial Supervision Authority informed PAP that KGHM had published a current report on changes in the composition of the company's management board and the legal basis for the publication was the article of the Public Offering Act regarding current and periodic information and one of the paragraphs of the regulation of the Minister of Finance on current and periodic information relating to the appointment and dismissal of members of the issuer's management board. It was added that the company did not classify the provided data as confidential information.
KGHM is the largest European producer of copper, considered a strategic raw material for the European Union. It is responsible for almost 50 percent. EU production of mining copper. Polish copper resources constitute approximately 85%. European resources. (PAP)
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