Sasin: We have reduced salaries in companies
The conversation centers on the remuneration of directors in state-controlled enterprises and the role of the supervisory boards in setting pay. Jacek Sasin, former minister of state assets, addressed these issues on the X platform, arguing that recent claims about high salaries should be viewed in the context of past wage cuts in state-owned companies. He asserted that salary reductions were implemented under his watch, and he defended the legality of the remuneration decisions as aligned with the governing rules and supervision from corporate boards rather than direct dictates from the Ministry of State Assets.
In the discussion, Sasin explained that the decision-making power over director pay rests with the supervisory boards of the companies, guided by the Commercial Code and the particulars of each contract. He stressed that these boards, not the ministry, determine salaries and sign off on contracts, with all steps backed by legal advice. Documentation related to these matters is accessible through state records and can be reviewed by the current government, he noted.
“The sooner we remove this coalition, the better for Poland.”
The debate touched on a law known as the Chimney Act, enacted in 2016 to curb earnings excessive beyond established limits. Sasin noted that the law structures director pay with a fixed portion tied to company size and a variable portion linked to annual performance. He argued that these provisions helped reduce director income in companies where the Ministry of Finance holds shares, including critical firms such as Orlen.
According to Sasin, the reform introduced in 2016 led to a notable decline in board-level remuneration across state-backed enterprises. He reiterated the position that the coalition should be replaced to create a more transparent governance environment for state assets in Poland.
Pomaska: Obajtek earned too much by at least PLN 1.5 million
KO MPs Agnieszka Pomaska and Tomasz Nowak presented findings about the earnings of executives in ministries-influenced firms, focusing on Orlen and the broader leadership group within the company’s management and supervisory boards. Pomaska recalled a previously prepared KO report that highlighted the former state assets chief, Jacek Sasin, as a central figure in these discussions. She argued that proper supervisory oversight over ministries’ companies had not been ensured, including Orlen, during the PiS administration.
She described efforts to address the so-called Chimney Law and the Budget Act in ways that allowed the remuneration base in companies like Orlen to be set by the Orlen supervisory board rather than by statutory provisions. Pomaska noted that a prosecutor’s office inquiry into potential crimes by Minister Sasin and board members had been delayed, described by her as politicized. Recently, prosecutors indicated the possibility of resuming the case, which Pomaska said could affect figures for senior compensation at Orlen and other state-backed firms.
Pomaska stressed that any findings of overpayments would require reimbursement and that preliminary estimates place the total in the tens of millions of zlotys across several companies with state shares. She noted that these figures cover periods up to the end of 2022 and warned of the implications for corporate governance if the law was found to be violated.
Nowak added that the inquiry spans multiple firms within the state asset portfolio, with alleged breaches identified in several cases. He provided calculations showing higher remuneration in companies such as Orlen, KGHM Polska Miedź, PZU, PKO SA, and PKO BP, and raised questions about the responsibility of the then head of MAP, Jacek Sasin, for these discrepancies. He emphasized that the reported overpayments collectively amount to around PLN 40 million, based on available data and estimates.
Bochenek recalls: Orlen is a publicly traded company that is closely watched
PiS spokesman Rafał Bochenek addressed reporters about the overpayment claims, noting that supervisory boards and shareholders would not tolerate violations in a listed company. He urged readers to review public market reports and ratings from the PiS period, arguing that the company’s documented performance and profits were a foundation for national energy security and investor confidence. Bochenek maintained that remuneration and bonuses arise from legal provisions and are assessed by corporate bodies responsible for funding decisions.
He argued that the company’s earnings and operations reflected a level of oversight appropriate for a public firm under market surveillance. The discussion highlighted the broader aim of ensuring that profits from Orlen’s activities contribute to national priorities, rather than creating room for questionable compensation practices.
In closing, supporters underscored that all pay scales are set within the legal framework and scrutinized by the relevant corporate bodies that authorize funding and oversee remuneration. The debate reflects ongoing scrutiny of governance in enterprises where the state holds stakes and signals a call for transparent oversight and accountability.
Notes: This account summarizes public statements and parliamentary proceedings related to executive compensation in state-backed companies, with references to the Chimney Act and Budget Act provisions. The discussion includes positions from members of the governing coalition and the opposition, reflecting the political contention surrounding state asset management. (attribution: wPolityce)