Łukasz Bernacki is the new Vice President of VRG

The Supervisory Board of VRG S.A. has decided to appoint Łukasz Bernacki as Vice President of the Group's Management Board for the jewelry segment. The new Vice President is a person with many years of experience in the industry who has been associated with the VRG S.A. Group for many years. For the past two years he has served as CEO of W.KRUK. He will now combine it with sitting on the Group's Board of Directors, overseeing the operations of the jewelry segment. Łukasz Bernacki took up his position effective July 7, 2022.

- I am glad that another experienced manager has been appointed to the VRG Board, who, in addition, has held various management positions within the Group for many years. Over the past two years, Łukasz Bernacki as CEO of W.KRUK has proven that he can effectively develop the business and build shareholder value. As a Supervisory Board, we are convinced that we have thus provided VRG S.A. with a target Board that will effectively build the future strength of the Group - commented Mateusz Kolański, Chairman of the VRG Supervisory Board, regarding the decision.

VRG's business model is based on two segments, apparel (which includes the Vistula, Bytom, Wólczanka and Deni Cler brands) and jewelry (W.KRUK). In recent years, the Group's jewelry part has been characterized by its resilience to difficult market conditions and dynamic growth. In the first quarter of 2022, this segment's revenue amounted to PLN 128.4 million (up 49.3% year-on-year), for the first time accounting for more than half of the entire Group's revenue.

- Following yesterday's decision by the Supervisory Board, the Board of Directors consists, in addition to the president, of Vice Presidents responsible for each business division and an experienced CFO. I am confident that with this functionally transparent composition we will be able to effectively manage operations, develop strategic initiatives effectively developing both segments, while optimally shaping cooperation between them. In the pandemic, we saw vividly how important the strong jewelry segment represented by W.KRUK is for our stability. The brand, under the leadership of Łukasz Bernacki, proved that it is able to effectively build sales and beat revenue records despite the extremely difficult environment - says Janusz Płocica, CEO of VRG.

In his role as Vice President, Łukasz Bernacki will be responsible for the Group's jewelry segment. He has also served as president of W.KRUK since July 2020. From 2015 to 2020, he was Vice President and CFO of W.KRUK. From 2009 to 2015, he served as Vice President of the Board of Directors and Chief Financial Officer, and later as President of Deni Cler. He is a graduate of the Cracow University of Economics with a specialization in accounting.

In addition to Janusz Plocica and Lukasz Bernacki, VRG's board includes Vice President Marta Fryzowska (who manages the apparel segment) and Vice President Michał Zimnicki (who serves as CFO).