News Parkiet

Corporate oversight

Kossowski quits PGNiG

Marek Kossowski said he would quit as the chief executive of Poland's natural gas monopoly PGNiG yesterday over disagreements with the country's new government. The move may signal an incoming purge of other top executives at state-owned companies. Sources close to the situation say the senior executives of regional power grid operator may be replaced soon. Other chief executives standing at the firing line say they have no plans to quit on their own.

Alcohols

CEDC raises forecast

Poland's biggest liquor wholesaler, US-based Central European Distribution Corporation raised its EPS target for next year from $1.92-2.12 a share to $1.94-2.14 a share after buying the assets of several local alcohol distributors. CECD, which took over Polmos Białystok vodka maker in a takeover battle against France's Belvedere, said it expects revenues of 906 to 931 million dollars.

Building materials

Cersanit up after stock split

Shares of Cersanit ceramic tile and bathroom accessories maker rose as much as 7.7 percent yesterday after a 1 to 10 stock split. The stock closed at an all-time high of 13.9 zloty in moderate trading.