“ATMs” have not received a discharge. Karnowski … – Railway Market

The former Board of PKP SA, led by James Karnowski not received a discharge for the previous year. The same happened in the case of PKP Intercity and PKP PLK. The reason is a “negative assessment of the work.”

As confirmed in the “Market of railway” Jolanta Kuczyńska, director of communications PKP SA, which met yesterday Ordinary General Assembly of PKP Intercity decided not to grant discharge to the former members of the Management Board and the Supervisory Board of PKP Intercity for the year 2015. – Failure to discharge due to the negative assessment of the work of the former company’s governing bodies and the absence of the relevant recommendation of the Supervisory Board of PKP Intercity – explains Kuczyńska.

The day before discharge from the Ministry of Infrastructure and Construction, for the fiscal year 2015 were not received Board of PKP SA and the former management of PKP Polish Railway Lines. For both decisions given the same explanation as in the case of PKP IC. Unfortunately, the MIB does not provide further information on this matter.

Previous boards of railway companies, due to the past the majority of their members in the financial sector, railway workers called “ATM”. They were very negatively assessed by the current Minister of Infrastructure Andrzej Adamczyk. Jakub Karnowski, Peter Ciżkowicz and Jarosław Bator published an official statement on not receiving the discharge.

Karnowski: “This is a political decision”

– We are surprised and outraged AGM decision not to grant us discharge. Both the financial results of PKP SA, and the condition in which they left the PKP Group companies clearly indicate that a vote against the discharge was dictated by purely political motives, not a substantive analysis. Our surprising is primarily the fact that all the goals we set before PKP SA owner (ie. The minister of infrastructure and development) in the last four years have been met. Now, without any justification, the same owner does not give us discharge for the fulfillment by us of their duties – said in a statement.

“The effects of our nearly four-year work, defend themselves. It is above all the first years to return passengers to rail, the level of satisfaction with the services provided by the station at the level of 64% at the end of 2015. 30 billion zł spent on investments in infrastructure, rolling stock and stations, increasing the speed at nearly 5 thousand. km of railway lines and efficient use of EU funds. PKP SA debt has been reduced by nearly 90%, achieved savings of tens of group purchases and through audit, which allowed for the detection and elimination of irregularities occurring earlier in the companies of the PKP. By building the value of the Group, established well-functioning investment company Xcity Investment, which has a chance to manage projects worth almost 9 billion “- posted Karnowski, Ciżkowicz and Bator.

How do I add, thanks to successful privatizations,” well evaluated by both control authorities as well as the best market experts “, PKP Intercity can invest nearly 1.5 billion zł in the modernization of rolling stock and station parking. – A special recognition both investors and industry experts enjoyed the privatization of PKP Cargo. The company was awarded the Best IPO on the Warsaw Stock Exchange 2013/2014 and the prize Bulls and Bears in the category Debut of the Year 2013 Award by the editors of daily Parkiet – said in the letter.

– For the past four years we have managed to make fundamental changes in perception station. The directions set by our Board of PKP SA gave hope to maintain the positive trends in the activities of Group companies and to achieve better and better financial results and more attractive offers for rail passengers in Poland – summarize the former management. As assured “take legal action to protect [their] good name.”

What is a vote?

Failure to give discharge to the management did not produce any immediate effects; may, however, an argument for the dismissal of a member of the Management board (which in this case does not apply.) Discharge is behind is essential for future career member of the board as presented to the public by the owner of the evaluation of its work.

What is important, granting discharge a member of the board is exempted from liability to the company – the general meeting expressed for acceptance of his decisions for the period. in the opinion of lawyers, company owners can not therefore eg. demand compensation for signing unfavorable for the company’s contracts during the period for which granted discharge, unless there are additional circumstances.