Current Report No.: 23/2020

Date of preparation: 21.05.2020

Abbreviated name of the Issuer: CIECH S.A.

Subject: Resignation of the supervising individual

Legal basis: Article 56 section 1 point 2 of the Act on Public Offering – current and periodic information

Report:

The Management Board of CIECH S.A. (the “Issuer”), herewith informs that on 21 May 2020, the Ordinary Meeting of the Company appointed Mr. Martin Laudenbach as a new member of the Supervisory Board of the Company.

Mr. Martin Laudenbach graduated from the University of Mannheim, Master Degree, Business Administration, majored in: marketing, leadership and organization and business psychology. Mr. Martin Laudenbach is a member of die Baden Badener Unternehmer Gespräche („BBUG“). BBUG is considered in Germany as the most reputable  and  highly profiled  institution in  advanced personal development of executive leaders from various business sectors. In 2017 Mr. Martin Laudenbach completed  ‘Making Corporate Boards More Effective’ course organized by Harvard Business School in Boston.

Mr. Martin Laudenbach worked from 2010 to 2017 for Solvay Capital Group:

1. from 2014 to 2017 

• on behalf of the Solvay Executive Committee he oversaw the business activities of Solvay Group companies in the Asia-Pacific region and
• he was a member of the Management Board of Vinythai Public Company (listed on the Thailand Stock Exchange, Solvay Group).

2. from 2010 to 2014 he was the President of Solvay Polyamide & Intermediates (formerly Rhodia).

Mr. Martin Laudenbach was the CEO of Almantis Group (leader in  development, manufacture and supplying of alumina and alumina-based products) from 2007 to 2009 and he worked for BASF Group from 1998 to 2005, managing  BASF Fine Chemical Division and others.

Mr. Martin Laudenbach  is not a partner in any competitive civil or general partnership and shareholder of any competitive capital company, nor an officer of any other competitive company or competitive legal entity. Mr. Martin Laudenbach does not conduct any other activity externally, remaining competitive to the Issuer's business. Mr. Martin Laudenbach conducts independently (outside the Issuer’s business) following business activity: he is the chairman of the board of Alumina I Srl and he is a senior advisor to Clairfield International. 

Mr. Martin Laudenbache has not been entered in the Register of Insolvent Debtors maintained pursuant to the Act on the National Court Register.

According to the submitted declaration, Mr. Martin Laudenbach meets the criteria of independence within the meaning of the Act of 11 May 2017 on Statutory Auditors, Audit Firms and Public Oversight, and within the meaning of Annex II to the European Commission Recommendation 2005/162/EC of 15 February 2005 on the role of non-executive or supervisory directors of listed companies and on the committees of the (supervisory) board, as well as the criteria described in the Code of Best Practice for WSE Listed Companies 2016.

Legal basis: § 5 pt. 5) of the Regulation of the Minister of Minister of Finance of 29 March 2018 on current and periodic information provided by issuers of securities and conditions for recognizing as equivalent information required by the laws of a non-member state.

Signatures of the persons representing the Company: 

Dawid Jakubowicz – President of the Management Board

Mirosław Skowron  - Member of the Management Board