The issue of formal requirements for supervisory board members in companies co-owned by the State Treasury exemplified by Polska Grupa Zbrojeniowa S.A.

Abstract

The article presents comprehensive and detailed deliberations of the issue
of formal requirements for members of supervisory boards of companies coowned
by the State Treasury. The research method used is a case study of
Polska Grupa Zbrojeniowa S.A. (diagnosis of chosen processes taking place in
the company PGZ S.A.), supplemented with a detailed analysis of legal regulations
in force, a review of literature and court decisions, as well as a discussion
of documents including earlier opinions presented by public authorities in
their answers to MPs’ queries concerning problems strictly related to previous
methods of selecting candidates to senior management posts in companies
owned by the State Treasury. The first part of the article presents issues of
organizational-legal aspects in the context of methods of selection and formal
criteria for members of the supervisory board of PGZ S.A. With reference to
the discussed topic, answers to important questions related to several chosen
important narrow research issues are given. Particular attention has been drawn
to identification and objective discussion of the importance of relevant legal
premises, which predetermine differentiated formal requirements for members
of supervisory boards in companies co-owned by the State Treasury. Additionally,
the author comments on the latest amendments to the regulations in force
concerning bans and limitations on the accumulation of positions by members
of supervisory boards of companies co-owned by the State Treasury from the
perspective of corporate governance mechanisms in PGZ capital group.