Polish Polkomtel CEO Jaroslaw Pachowski Resigns

WARSAW -(Dow Jones)- Chief executive officer at Poland's third-largest mobile telephone operator Polkomtel, Jaroslaw Pachowski, resigned Wednesday, the company's supervisory board chairman Andrzej Szczepek told Dow Jones Newswires.

The resignation is effective Jan. 2.

Miroslaw Bielicki, current deputy CEO, has been designated to be an acting CEO until Pachowski's replacement is found, according to the statement issued by Polkomtel.

"The supervisory board has decided to look for a new CEO with the help of a specialized head-hunting agency," the statement said.

In addition, the supervisory board appointed Jacob Kjear, recommended by TDC A/S -a 19.6% shareholder -as a management board member and financial director, following the resignation of Finn Schkolnik, also a TDC A/S representative.

Pachowski's resignation comes as no surprise after the change in government in September as he was closely aligned with the previous left-wing government.

Polkomtel's main shareholders include Poland's oil company PKN Orlen SA, copper producer KGHM Polska Miedz SA and power grid Polskie Sieci Elektroenergetyczne, all controlled by the State Treasury.

KGHM, PKN Orlen, Vodafone Group PLC each hold 19.6% stakes in Polkomtel, while PSE has 17.6%.

-By Malgorzata Halaba, Dow Jones Newswires; +4822 622-2766; malgorzata.halaba@dowjones.com

(END) Dow Jones Newswires "

Posted to the site on 21st December 2005