Former president of Orlen, Jacek Krawiec, expressed his criticism of the way Daniel Obietek managed the company, presently acting as president. In an interview with the magazine “Forbes” Krawiec powerfully estimated that the company had gone back about 20 years under his direction. Orlen responded to these comments.
Jacek Krawiec served as CEO and CEO of PKN Orlen from 2008 to 2015. He now lives abroad, pursuing another life plans. In an extended interview given to Forbes magazine, he criticised in item the last 8 years of Orlen's activity, focusing in peculiar on negative assessments of president Daniel Obietek's activities.
Tailor critically about Daniel Obietek: Orlen is manually controlled under lot dictation
– The president was introduced as a man totally subordinated to the interests of 1 political party," said Krawiec, and stressed that the current board, as well as its president, were the worst since the company went public. "It was the president who eliminated all the procedures in Orlen, which was clearly seen erstwhile manipulating fuel prices before and after the election. I estimation that in the case of Orlen's management standards, he was withdrawn by about 20 years. Obietek made that the company, which has been Poland's visiting card abroad for years, awarded many times internationally, is present manually controlled, under the dictates of political organization expectations," he added.
Did Orlen sale Refinery Gdańsk for besides low a price?
The erstwhile CEO of PKN Orlen expressed criticism regarding, among another things, the sale of a 30% share in the Gdańsk Refinery of Saudi Aramco at a price that he thought was underselling. In his opinion, the company should have obtained between 4 and 8 times more for this share. He besides pointed to the anticipation of easy reselling the company’s participation as the blocking provisions were introduced only after the conclusion of the contract.
Jacek Krawiec pointed out the clause on the amount of the punishment for breach of the agreement between Orlen and Saudi Aramco on the supply of oil. There is talk of a $500 million penalty, which represents about twice the amount for which the sold package of the Gdańsk Saudom Refinery was valued. The tailor considers this amount absurd, which is disproportionately advanced in the business context. He claims that only individual crazy or very motivated could enter specified a evidence into the contract and accept it.
In his criticism, Krawiec besides refers to the price policy of Orlen, claiming that under Daniel Obietek the company does not have a coherent pricing policy. In his opinion, she was replaced by activities taken in favour of the political organization of the Law and Justice organization or resulting from individual relations with representatives of power. The tailor believes that in Orlen “the wonders with a margin” where the margin is simultaneously artificially overestimated and not occurring. As an example, it gives a pre-election simplification in fuel prices at Orlen stations, as defined by the media as a "fuel miracle", which in his opinion cost Orlen between 2 and 3 billion zlotys. Krawiec considers the usage of the negative margin to be inefficient and detrimental to the company, while expressing his surprise that the Office for Competition and Consumer Protection has not initiated a review procedure against the company.
Both companies mention to Jack Tailor's interview
In consequence to the interview, Krawiec issued a message by Orlen, in which he powerfully denied “the included ones”. The company believes that the erstwhile president misleads the public with his interview and wanted to discredit the company. "It is completely unfortunate to say that Orlen went back 2 decades in 8 years. It's precisely the opposite. As a consequence of making the right business decisions and effective management, Orlen made a leap forward by 20 years. This is confirmed by circumstantial data, not empty, unsupported emotional accusations. Orlen is now the largest fuel and energy group in Central Europe, which in terms of gross is among 150 companies in the planet and serves more than 100 million customers," says the reply.
Orlen besides referred to allegations concerning the sale of shares in the Gdańsk Refinery. It argues that they were sold for ‘just as much as they were valued by investors’. "The asset valuations for the merger of Orlen and the Lotos Group were prepared by independent advisers, and this process was carried out on marketplace terms, in compliance with the law and with the agreement of the European Commission. Importantly, this process was besides supported by about 99 percent of the shareholders of both companies, agreeing to the merger of Orlen with the Lotos Group under conditions which Mr Jacek Krawiec questions" – we read further.
From
"The Criminal Code Crimes". erstwhile ORLENU president hits Obietek:
