Shareholders clear Orlen to claim damages from former managers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 02 2024
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Should l Buy ?
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.
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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.
