Poland fires Warsaw stock exchange chief

Poland fires Warsaw stock exchange president for alleged abuse of position

Associated Press

WARSAW, Poland (AP) -- The governing body of the Warsaw Stock Exchange has fired the company's chief, Ludwik Sobolewski, and appointed his successor.

Sobolewski was suspended in December following reports that he and a subordinate were involved in soliciting funds from companies listed on the stock exchange for a commercial movie featuring Sobolewski's girlfriend.

Poland's Treasury Ministry, the majority owner of the exchange, suspected Sobolewski had abused his position in business unrelated to the stock exchange. Minister Mikolaj Budzanowski has asked the state Anti-Corruption Office to investigate.

On Thursday, an Extraordinary Assembly of the Warsaw Stock Exchange shareholders fired Sobolewski and appointed Adam Maciejewski as the new president.

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