Shareholders clear Orlen to claim damages from former managers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 02 2024
0mins
Source: Reuters
Orlen's Compensation Pursuit: Poland's Orlen has received shareholder approval to seek compensation from 13 former executives, including ex-CEO Daniel Obajtek, for financial losses incurred during their management, which the company estimates at around $1.23 billion.
Government Scrutiny and Management Changes: Following a management reshuffle, prosecutors have initiated investigations into the previous leadership's actions, particularly regarding fuel pricing and unfulfilled contracts, while Orlen continues to audit past projects for potential additional losses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
