On August 1 this year, Energa's supervisory board removed Arkadiusz Siwko from the post of CEO without giving reasons for this decision. The rotation in the main position is huge, it is already the seventh change in the last three years. At the news about the next cadre change Energa shares lost 2%.

Arkadiusz Siwko was the sixth president of Energa in two years. He held this position for only 29 days. It is hard to believe that on July the 12th, along with energy minister Krzysztof Tchórzewski, Siwko celebrated the signing of a contract with the general contractor of Elektrownia Ostrołęka C.

Such frequent staff changes translate into the company's lack of stability and are not conducive to its image. They also put a lot of question marks on the motives of such behavior because they do not justify the actions taken and the company did not present the reasons for dismissal of its former president. It is difficult to imagine the fact that after less than a month of work you can lose your employer's trust so that it motivates such a quick recall. Unless politics is involved and this decision is the result of disputes in the power camp?

The Energa carousel is another proof that the State Treasury is not a serious partner to invest in the stock market. Changing the CEOs is a lack of stability and a unified vision on the most important chair in the company. This game is unfortunately purely political and has nothing to do with business - comments Adam Torchała, editor of Bankier.pl

Energa's presidents and changes in the government - see info graphics

Arkadiusz Siwko was the president of Polska Grupa Zbrojeniowa. He sat on the supervisory board of Orlen and was the head of the Cabinet of the Minister of Internal Affairs when the ministry was managed by Antoni Macierewicz. Unfortunately, too often the most important people in the company do not come from the energy industry. Repeatedly their terms ended very quickly or their activities were characterized not by long-term strategy but by the desire to demonstrate quick business results.

By the time the new president is elected, duties are formally performed by Alicja Klimiuk. She did it before, when Daniel Obajtek resigned from the post of the president. It was him who was replaced by Siwko. Alicja Klimiuk also participated in the process of consolidation of the Energa Group with the Ostrołęka Power Plant. We will see who the new president will be and whether Alice Klimiuk is currently looking at the plans to build an unprofitable and socially harmful 1000 MW power plant in Ostrołęka C.

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