Posts Tagged ‘Szafranski’

PKP PLK finance chief forced out

Friday, 17 July 2009

Rynek Kolejowy reports that Polish State Railways Infrastructure Company, PKP PLK, finance and economics director Bogdan Szafranski has resigned. Details are sketchy but it seems likely that Szafranski was forced out because he failed to institute a programme to stem mounting losses.

PKP PLK boss, Zbigniew Szafranski, warned repeatedly that because of PLK’s falling revenues – particularly from PKP Cargo – PKP PLK was accumulating a huge loss and would need a state bailout to avoid massive cutbacks of the railway infrastructure. With Finance Minister Jacek Rostocki clamping down on Government expenditure, the PKP PLK finance chief’s departure would seem to herald another round of railway closures to be just round the corner.