Appointment of Mr. Marek Grzybowski and Mr. Paweł Ziółkowski to the positions of Cyfrowy Polsat S.A. Supervisory Board Members and changes in the composition of the Audit Committee

The Management Board of Cyfrowy Polsat S.A. (the “Company”) hereby informs that pursuant to resolutions adopted on July 23, 2020 the Annual General Meeting of the Company resolved that the Supervisory Board of the present term of office shall consist of 9 (nine) members. Concurrently, the Annual General Meeting appointed Mr. Marek Grzybowski and Mr. Paweł Ziółkowski to the positions of Supervisory Board Members, effective July 23, 2020.

The Company furthermore informs that a Supervisory Board meeting took place on July 23, 2020, during which:

-      the Supervisory Board accepted the resignations of Mr. Robert Gwiazdowski and Mr. Leszek Reksa from the positions of Members of the Audit Committee,

-      the Supervisory Board, acting pursuant to Art. 7 Section 3 of the By-Laws of the Supervisory Board of the Company, completed the composition of the Audit Committee by appointing Mr. Marek Grzybowski and Mr. Paweł Ziółkowski to the positions of Audit Committee Members,

-      the Supervisory Board, acting pursuant to Art. 2 Section 5 of the By-Laws of the Audit Committee of Supervisory Board of the Company, appointed Mr. Marek Grzybowski to the function of Chairman of the Audit Committee.

Mr. Marek Grzybowski

Associate Professor Marek Grzybowski PhD has been a member of the Faculty of Law and Administration of Warsaw University since 1977, and has pursued his academic career at the Department of Finance Law.

He has authored and co-authored numerous academic publications: monograph studies, commentaries to the Act on the Bank Guarantee Fund, professional journal articles, and judicial interpretations. His academic research interests relate in the main to public policy issues of banking law, including regulation and supervision of financial markets and bank deposit guarantee schemes.

Dr Marek Grzybowski is an attorney-at-law and, since 1983, a member of the Warsaw Bar Association of Attorneys-at-Law. Between 1987 and 2000, he was a partner in the law firms: Consultor LC and T. Komosa, C. Wiśniewski, M. Grzybowski and Wspólnicy LP. In the years 2001 – 2003, he was partner at the international law firm Linklaters LP, and, until 2020, attorney-at-law and proxy representing the firm.

In the period 1995 – 1999, he sat on the Board of Directors of the Bank Guarantee Fund and was elected President of the Board of Directors of the Bank Guarantee Fund for the term of 1999 – 2003.

In 2005, Dr Marek Grzybowski was awarded the Golden Cross of Merit for service to the Polish banking system.

Since 1997, Dr Marek Grzybowski has been editor-in-chief of “GLOSA” – a monthly law journal until 2005, subsequently a quarterly, published by Wolters Kluwer.

In the years 1999 – 2007, he was an editorial board member of the “Bezpieczny Bank” (Safe Bank) quarterly, and its editor-in-chief between 1999 and 2003.

He currently sits on the editorial board of The European Journal of Legal Education.

Since 2012, he has been deputy dean in charge of financial affairs of the Faculty of Law and Administration of Warsaw University.

In 2014, Dr Marek Grzybowski was elected member of the Board of the European Law Faculties Association (ELFA), of which he is now president since April 2019.

Dr Marek Grzybowski does not conduct any activities competitive to the operations of the Company and its affiliates and is not a partner in any partnership under civil law or another type of partnership, or a member of a governing body of any incorporated company or any other legal entity which would be competitive to the Company. He is not entered into the Registry of Insolvent Debtors held by the Registry Court.

Dr Marek Grzybowski fulfills the independence criteria set forth in the Best Practices of WSE Listed Companies 2016 in II.Z.4. and in article 129 section 3 of the Act of May 11, 2017 on Statutory Auditors , Audit Firms and Public Oversight.

Mr. Paweł Ziółkowski

Paweł Ziółkowski is a graduate of the Foreign Trade Faculty of the Warsaw School of Economics. He has extensive experience in corporate and investment banking, in particular in the fields of finance management, risk management, relationship management, as well as trade finance and debt capital markets.

He began his career in banking in 1992 at ING Bank, where he acted as Department Head in the field of Trade and Commodity Finance until 1996. 

In the years 1996-1998 he held the position of Management Board Member at SBC Warburg Sp. z o.o. responsible for debt capital markets and global trade finance.

From 1998, he worked for RBS Bank Polska S.A. (formerly ABN AMRO Bank Polska S.A.) where he held various functions. In the years 2000-2001 he was Head of Corporate Banking and from 2001 Member of the Management Board in charge of relationship management. In 2004, he was appointed CEO and President of the Management Board of RBS Bank Polska, a function he held until 2019.

During the years 2000-2019 he was a Member of the Credit Committee and the ALCO at RBS Bank Polska.

From 2009 until 2016 he acted as Non-Executive Board Member of the Polish Banking Association.

Paweł Ziółkowski does not conduct any activities competitive to the operations of the Company and its affiliates and is not a partner in any partnership under civil law or another type of partnership, or a member of a governing body of any incorporated company or any other legal entity which would be competitive to the Company. He is not entered into the Registry of Insolvent Debtors held by the Registry Court.

Paweł Ziółkowski fulfills the independence criteria set forth in the Best Practices of WSE Listed Companies 2016 in II.Z.4. and in article 129 section 3 of the Act of May 11, 2017 on Statutory Auditors , Audit Firms and Public Oversight.