Poland’s JSW seeks new ceo after relative stability

Jastrzebska Spolka Weglowa (JSW)’s supervisory board has dismissed chief executive Tomasz Cudny from his post, as well as commercial director Sebastian Bartos, Kallanish notes. Reasoning was not provided.

Supervisory board member Pawel Rostkowski has been appointed acting ceo until a permanent replacement is found. Robert Ostrowski has been appointed acting commercial director, while retaining his position as JSW economic director.

Cudny survived as JSW ceo for 2.5 years, the longest stint anyone has managed in the job since long-serving former ceo Jaroslaw Zagorowski resigned in 2015.

JSW saw external coking coal sales drop 9% on-year in the fourth quarter of 2023 to 1.46 million tonnes, but coke sales inched up 5% to 790,000t. The miner is due to publish its full Q4 and 2023 results in March. Nine-month-through-September 2023 external coking coal sales were flat on-year at 4.8mt, with coke sales at 2.5mt, also flat on-year.

Adam Smith Poland