The Management Board of Grupa LOTOS S.A. (the ‘Company’) announces that today the Supervisory Board closed the qualification procedure for the position of President of the Management Board of Grupa LOTOS S.A. of the ninth joint term of office.

On May 29th 2015, the Supervisory Board resolved to appoint Mr Paweł Olechnowicz to the Management Board of Grupa LOTOS S.A. of the ninth joint term of office as its President.

With respect to the remaining positions, the Supervisory Board decided to continue the qualification procedure. 

The current Management Board’s term of office expires on June 28th 2015. The remaining members of the Management Board will be appointed before that date.

Paweł Olechnowicz

Paweł Olechnowicz has served as the President of the Management Board since March 12th 2002. He is in charge of, and takes responsibility for, the overall management and direction of the LOTOS Group’s operations. Mr. Olechnowicz is also acting chairman of the board of directors of LOTOS Exploration & Production Norge AS and the board of directors of LOTOS Geonafta. Paweł Olechnowicz graduated from the Faculty of Technology and Mechanisation of Foundry Engineering of the AGH University of Science and Technology in Kraków. He also holds a post-graduate diploma from the Gdańsk University of Technology (Organisation, Economics and Management of Industry) and an MBA degree from INSEAD in Fontainebleau, France. He has completed a number of professional courses in management both in Poland and abroad. In 1977, he started his professional career at Zakłady Mechaniczne Zamech of Elbląg (from 1990 – ABB Zamech Sp. z o.o.). In 1990-1996, he was President of the Management Board and CEO of ABB Zamech Ltd.; concurrently, in 1994−1996, also served as Vice-President of ABB Polska. Subsequently, for two years Paweł Olechnowicz worked at the head office of ABB Ltd in Zurich, Switzerland, as Vice-President for Central and Eastern Europe. In 1999-2000, Mr Olechnowicz served as Vice-President and Deputy CEO of ZML Kęty S.A., and from 2001 he ran his own consulting firm Paweł Olechnowicz – Consulting.
Mr Olechnowicz is not entered in the Register of Insolvent Debtors maintained pursuant to the Act on the National Court Register and is not engaged in any activities competitive with the Issuer’s business. He is neither a partner in any partnership under civil law or another partnership engaged in activities competitive with Grupa LOTOS S.A.'s business, nor a member of governing bodies of incorporated companies or other legal entities engaged in activities competitive with the Company's business.

This current report is published pursuant to Par. 5.1.22 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009.