PGNiG Dismisses Upstream Chief Before He Takes Office

Date : 04/03/2013 @ 9:38AM
Source : Dow Jones News
Stock : Chevron Corp. (CVX)
Quote : 105.93  1.04 (0.99%) @ 4:07PM

PGNiG Dismisses Upstream Chief Before He Takes Office

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WARSAW--The supervisory board of Polish natural gas utility PGNiG SA (PGN.WA) has dismissed its recently hired head of exploration and production, Krzysztof Bocian, because he didn't agree to a "standard" non-compete clause in his contract, the company said Wednesday.

Mr. Bocian wasn't immediately available for comment.

The state-controlled company, whose main business is buying Russian gas and re-selling it in Poland, has ambitious plans to explore for and produce shale gas in Poland.

In February, it said it had hired Mr. Bocian, an alumni of Stanford University business school, who has worked at Chevron Corporation (CVX) since 2008. Chevron is also exploring for shale gas in Poland. Mr. Bocian was scheduled to start work on April 1.

"The supervisory board's decision is connected to Mr. Krzysztof Bocian's non-acceptance of standard terms of employment for all management board members, including on the scope and time banning competition after ending employment," PGNiG said in a news release.

PGNiG plans to drill 33 exploration wells this year, including 13 wells to explore for shale gas, as the company aims to help the Polish government fulfill a strategy to decrease its dependence on Russian gas imports.

-Write to Marynia Kruk at marynia.kruk@dowjones.com




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