PZU dismisses CEO Andrzej Klesyk after brief tenure
The company did not provide a reason for the move.
Klesyk was appointed as the company's CEO in March, following a period outside the country's largest insurer. He was the PZU's CEO from 2007 to 2015 but left when the previous nationalist government took power.
The current Polish government plans to merge PZU with Poland's second-biggest lender by assets Pekao (PEO.WA), opens new tab in a deal that would create a financial group with a combined market value of more than 100 billion zlotys ($27.30 billion).
The terms of a share exchange may be finalized by the start of the second quarter of 2026, Pekao's Chief Executive Officer Ceary Stypulkowski said on Thursday.
The potential tie-up, which would rank as the biggest financial M&A transaction in Europe for at least 12 months according to LSEG data, is another high profile deal recently announced in Poland, where expectations for consolidation in the banking sector have grown.
($1 = 3.6658 zlotys)
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