Adam Stolarz and Robert Sobkow on the Management Board of Trakcja

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Industrial Development Agency (ARP), one of the shareholders of Trakcja PRKiI, made a statement on the appointment of Adam Stolarz and Robert Sobkow as members of the management board of the company. The first one will be responsible for key clients in the company, the second one will be responsible for internal audit.

Many years of learning and experience

Adam Stolarz is a graduate of Leon Kozminski University of Management and Entrepreneurship, where he is currently also studying for a PhD at the Faculty of Management and Command. He also completed State Aid Policy and Practise in the European Community: An Integrative and Interactive Approach at the European Institute of Public Administration in Maastricht. In his career to date, he has been, among others, an executive director of the Polish Armaments Group and a member of the Management Board of PRI Pol-Aqua. Since April last year, he has been working as the managing director of ARP.

Robert Sobkow is a graduate of the Poznan University of Economics and Business, Faculty of Economics, Production and Marketing, as well as the Faculty of Management, where in 2005 he was awarded the title of Doctor of Economics. In 2018-2019, he was Vice-President of the Lotos Group for Financial Affairs, and earlier he held the position of President of LMB Consulting and Vice-President for Financial Affairs of Tonsil.

After numerous changes in recent weeks, the current composition of the Management Board of Trakcja PRKiI looks as follows:

• Marcin Lewandowski, President of the Board, CEO

• Paweł Nogalski, Vice-President of the Management Board, Chief Financial Officer

• Aldas Rusevicius, Vice President of the Management Board, Baltic Markets Director

• Arkadiusz Arciszewski, Vice-President of the Management Board, Technical Director

• Adam Stolarz, Member of the Board of Executives, Key Account Manager

• Robert Sobkow, Member of the Board of Executives, Audit Director inward

Over 18% of votes

Industrial Development Agency also informed about taking up 3 589 080 B series bearer shares and 12 528 567 C series registered shares of Trakcja, which constitute in total 18.64% of votes at the general meeting of the company.

As at 30 September this year, Trakcja has an order book worth PLN 2.78bn (€646m). But unprofitable legacy contracts continue to weigh down on its financial results – they plunged the company into huge losses in the first half of 2019. For the first three quarters, Trakcja chalked up consolidated sales revenues of PLN 1,082m (€251m), down 1.4% year-on-year, and made a net loss of PLN 80.9m (€18.8m), compared with a loss of PLN 13.5m (€3.1m) in the same period in 2018.