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Daniel Obajtek dismissed from Polish fuel giant Orlen's management board amid investigation

01.02.2024 13:00
The supervisory board of Orlen has decided to dismiss Daniel Obajtek from the management board, effective February 5, 2024, according to an official announcement from the Polish fuel giant.
Daniel Obajtek.
Daniel Obajtek. Photo: PAP/Marcin Bielecki

The decision follows Obajtek's offer to step down, as stated in his letter to the supervisory board.

In response to the decision, Obajtek expressed pride in Orlen's recent transformations, acknowledging the dedication of over 66,000 Orlen Group employees. Despite previously indicating his intention to resign after the elections, Obajtek emphasized his responsibility to fulfill key obligations, including closing the year, managing the budget, and finalizing investment matters.

The dismissal comes amid an investigation by the Płock District Prosecutor's Office into the 2022 merger of Orlen with the Lotos Group. The probe focuses on potential breaches of duties by members of Orlen's management board and other individuals involved in the merger negotiations, causing significant financial damage to Orlen.

Obajtek, who served as Orlen's CEO since February 6, 2018, navigated the merger with Lotos Group during his tenure. Orlen's strategy until 2030, updated last year, outlines ambitious investment plans exceeding PLN 320 billion, emphasizing the corporation's commitment to diverse energy sectors, including renewables and nuclear power.

Source: PAP