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Alior Bank CEO to step down when term ends

Alior Bank SA said management board President Wojciech Sobieraj will not apply for re-election after his current term ends.

Sobieraj is the founder of the bank and its only CEO since it was founded in 2008, according to a June 1 Reuters report. He will remain in office until his replacement is appointed for the next term.

Former PZU SA CEO Michal Krupinski, who currently serves as supervisory board chairman at Alior, could reportedly replace Sobieraj as CEO. State-controlled PZU owns 29.22% of Alior Bank, according to S&P Global Market Intelligence data, and has said it wants to use the bank as part of its strategy to acquire and consolidate Polish lenders.