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Jacek Michalak was appointed by the Supervisory Board to the position of a member of the Management Board responsible for financial affairs of Selena Group. He will replace Elzbieta Korczynska, who has resigned. She has been a member of the Management Board since November 2018.
Continuation of the strategy
The new member of the Management Board will be responsible for continuing the group’s financial strategy and further improving the company’s efficiency. According to Jacek Michalak, the implementation of the adopted development strategy, cost control and increasing the share of high-margin products in sales will translate into improved efficiency of Selena Group.
A lot of experience
Jacek Michalak is a graduate of the Faculty of Economics and Sociology at the University of Lodz, majoring in Finance and Banking.
In the years 2012-2019 he was a member of the Management Board and a financial director of ZT Kruszwica. In previous years, he was the CFO of such companies as Petrolot, Carlsberg Poland, Carlsberg UK with its registered office in Northampton and Carlsberg Shared Service Center Poznan, where he also held the position of the Chief Executive Officer. The new board member for financial affairs also gained professional experience in Pepsico Frito Lay, Huhtamaki Leaf Poland and PepsiCo Wedel.
Better financial results in Q1 2019
Selena Group recorded consolidated sales revenue of PLN 271.1m in Q1 2019, compared to PLN 248.2m a year earlier, the company reported in its report. This means an increase in revenue by 9% y-o-y. In the first three months of this year, net profit amounted to PLN 6.1m, compared to a loss of PLN 4.2m in Q1 2018.