Composition

The Supervisory Board is composed of seven to eleven members. The number of members is specified at the General Shareholder Meeting.

Members of the Supervisory Board are appointed by the General Shareholder Meeting for a shared term which includes three consecutive full financial years.

At least one member of the Supervisory Board must be qualified in accounting or auditing, as understood by the Act on statutory auditors and their self-governing body, auditing firms and on public oversight of 7 May 2009. Furthermore, at least one member of the Supervisory Board should meet the independence criteria specified in the Articles of Association (Independent Member) concerning e.g. professional and personal relations, especially with members managing or supervising PZU and entities in the PZU Group. The Independent Member has to present a written statement that all independence criteria provided for in the Articles of Association have been met and inform the Company when the criteria are no longer met. In addition, the Articles of Association give the State Treasury the right to appoint and dismiss one member of the Supervisory Board by way of a written statement submitted to the Management Board. The right will expire once the State Treasury ceases to be the Company’s shareholder.

PZU Supervisory Board composition as at 31 December 2013:

  • Waldemar Maj – Supervisory Board Chairman;
  • Zbigniew Ćwiąkalski – Supervisory Board Deputy Chairman;
  • Tomasz Zganiacz – Secretary Supervisory Board;
  • Dariusz Daniluk – Member;
  • Zbigniew Derdziuk – Member;
  • Dariusz Filar – Member;
  • Włodzimierz Kiciński – Member;
  • Alojzy Nowak – Member;
  • Maciej Piotrowski – Member.

The criteria of an Independent Member of the Supervisory Board were met by Dariusz Daniluk and Dariusz Filar.

The composition of the Supervisory Board did not change in 2013.

The current term of office of the Supervisory Board of PZU started on 30 June 2011 and will end after the lapse of three financial years. The mandates of members of the Supervisory Board expire not later than on the date of the General Shareholder Meeting approving the financial statements for the last full financial year of their term, i.e. on the date of the General Shareholder Meeting in 2015.