Janusz Płocica will lead VRG

At today's meeting, VRG's Supervisory Board decided to appoint Janusz Płocica as CEO of the Group. The new CEO is a person well-known among capital markets. In his career, he has held management positions and was a member of the supervisory boards of, among others, Zelmer S.A., Łukbut S.A., Nordglass S.A., ACE S.A. and Danwood SA. He also was a member of the board of directors of Vistula S.A. from 1999 to 2002, holding the role of CEO. The new CEO will take office on June 1, 2022.

- I am very glad that the management work of VRG Group will be led by such an experienced manager, and additionally by a person who historically held the role of CEO in Vistula S.A. Janusz Plocica has proven numerous times that he is able to effectively develop business and build the value for shareholders, fulfilling management roles in companies from various industries, including the most recognizable companies in the FMCG segment in Poland - commented Mateusz Kolański, VRG Supervisory Board Chairman, on the decision.

As Mateusz Kolański highlighted, the VRG Supervisory Board had the opportunity, through a professional recruitment process that lasted several months, to select the VRG CEO from among more than a dozen top managers both from the fashion industry and unrelated to the area in which the company operates. - I am satisfied to say that we had great comfort and the opportunity to select a CEO who has the support of all members of the Board, and thus a strong mandate - the Chairman highlighted.

The appointment of Janusz Płocica as CEO of VRG completes the process of reconstructing the company's management that was initiated in 2021. - We are closing a long and multi-stage process aimed at fundamentally reconstructing and strengthening the VRG Board. Our objective was to create a board that consists of experienced professionals who represent unquestionably strong competencies in the company's key areas at this time. As a Board, we are convinced that we have succeeded in creating such a Board - Mateusz Kolański emphasizes.

Among the challenges facing the company's Board of Directors, the Chairman mentions, foremost, improving the efficiency of the entire Group's operations and building a mature organizational culture that is friendly to all its key stakeholders.

Janusz Płocica is a graduate of the Warsaw University of Technology, Faculty of Materials Engineering (1985-1992) and the Warsaw School of Economics Specialization: management and marketing (1996-1999). He worked in managerial positions in 1993-1995 at Procter&Gamble, 1995-1999 r at Trinity Management (a company managing three NFIs). From 1999 to 2002 at Vistula S.A. as a member of the Management Board, then CEO. From 2002 to 2005, CEO of Rekopol S.A. From 2005 to 2014, member of the Management Board, then CEO of Zelmer S.A.  From 2014 to 2022, CEO of Cormay S.A. From 1995 to 2017, he was a member and chairman of the Supervisory Boards of public and non-public companies including Łukbut S.A., Nordglass S.A., ACE S.A. and Danwood S.A.

In addition to Janusz Płocica, the VRG board of directors will include Vice President Marta Fryzowska (who manages the fashion segment and the Vistula, Bytom and Wólczanka brand divisions) and Vice President Michał Zimnicki (who also serves as CFO).

Marta Fryzowska assumed her position on December 1, 2021. She is an experienced manager in the fashion industry. She has worked at LPP for the past 15 years, moving up the career ladder from a buyer's assistant in the Reserved Men product preparation department to the position of collection director in the Reserved Men product preparation department. The VRG Vice President is a graduate of the University of Gdansk, Department of Law and Administration, with a specialization in administration.

Michał Zimnicki joined the company's Board of Directors on September 1, 2020, and supervises the finance, logistics, IT, HR and administration sectors. He is a CFO with many years of practical experience gained on significant financial and business projects in companies with different business profiles. He combines practical knowledge of finance with the ability to manage operational and strategic companies at the level of board structures.