Archive for January 28th, 2013

PKP Cargo boss in surprise resignation

Monday, 28 January 2013

Wojciecj Balczun thumb

Former PKP Cargo boss Wojciech Balczun. Photo Shalom.

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PKP Cargo Chairman, Wojciech Balczun, resigned today from the job of leading Poland’s largest rail freight carrier. The shock resignation is reportedly the result of Balczun receiving an offer of a  lucrative post with a major international company. Balczun will work out his three month notice with PKP Cargo and will help the company choose his successor.

Balczun has been in charge of PKP Cargo since January 2008. Prior to that, in the years 2005 – 2007, he was the Chairman of the main board of PKP SA. In 2008, the Cargo’s loss amounted to 178.8 million PLN. After major restructuring, which involved reducing the headcount from 44 k to 24.5k, he turned the company round and it is expect to declare a profit of 340 million PLN for 2012.

As Cargo prepares for an IPO on the Warsaw Stock Exchange, Balczun has emerged as one of the most able bosses in the PKP family and one that the state-owned group can ill afford to loose.

More (in Polish)