Changes in the management board composition of the LPP Group
On 17 October 2024, Przemysław Lutkiewicz, vice-president of the management board of LPP, resigned from his position for health reasons. As a result of this decision, CEO Marek Piechocki announced that he intends to propose Marcin Bójko, LPP’s current financial director, to the shareholders as a candidate to be appointed to the board in the role of vice-president – chief financial officer of the company.
– Accepting Przemysław Lutkiewicz’s resignation was not easy, but we understand and respect his decision. Above all, I would like to express my deep gratitude for his enormous commitment and professionalism that he brought to our organisation every day. The last few years have been challenging for LPP and yet, in difficult market conditions, we have developed our business, which is also undoubtedly thanks to Przemek. I am thankful for all the years of working together. I am going to make the recommendation to the shareholders to appoint Marcin Bójko as management board member, as has been performing management functions in the finance area of the LPP Group for over a year now and has relevant competence and experience. Marcin’s presence on the board will guarantee continuity, stable management and consistent realisation of the ambitious development goals we have set ourselves. I believe that the shareholders will soon approve his joining the board because his is a person who knows the company well and understands our business – comments Marek Piechocki, CEO of LPP.
Przemysław Lutkiewicz, who is stepping down as vice-president of LPP’s management board as of 17 October this year, joined the Gdańsk-based company in 2008. Since 2015, as vice-president of the board, he has been responsible for the areas of finance, controlling, internal audit, investor relations and has supervised the foreign subsidiaries of the entire LPP Group.
– It was not an easy decision, but there comes a point when personal considerations and health concerns have to come to the fore. Over the past years, together with my other colleagues on the board and all the company’s employees, I have had the opportunity to build a unique organisation that has its own idea of development and knows how to implement it. I leave the area of finance in good hands – in my view, Marcin Bójko will ensure the continuation of the best practices to which the market has become accustomed, and will bring a fresh perspective to the work of the board. I would like to thank everyone I have met on my professional path at LPP. It is the people who are the strength of this company and it is thanks to the ambitious and committed teams that make up LPP, with whom I have had the privilege to work, that we have built a thriving organisation. I wish good luck and many successes to all my co-workers – Przemysław Lutkiewicz comments on his decision.
In view of Przemysław Lutkiewicz’s resignation, the LPP board has requested that an Extraordinary General Meeting of Shareholders be convened for 15 November 2024 in order to vote on a resolution appointing Marcin Bójko as vice-president of the LPP management board.
Marcin Bójko has been with LPP since 2023 in the role of controlling director. Since June 2024, he has also been supervising the work of accounting and reporting teams.
– LPP today is a strong organisation, growing at an impressive pace, with a clear vision for the future. I consider the intention to recommend my candidature for such a responsible role as a personal challenge, but also as a proof of trust. I hope that my previous professional experience and knowledge gained at LPP during my work with Przemek Lutkiewicz will allow me to effectively support the company and the other members of the board in the implementation of the adopted business plans – says Marcin Bójko, financial director of LPP.
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LPP is a Polish family business and one of the fastest growing clothing companies in the region of Central Europe. For 30 years, it has been successfully designing and selling the collections and accessories in Poland and abroad. LPP manages five fashion brands: Reserved, Cropp, House, Mohito, and Sinsay, whose offer is available today in stationary and online stores in 40 markets worldwide. The company has a chain of nearly 2500 stores with the total area of over 2 million m2 and distributes the products to 3 continents every year. LPP also plays an important role as it provides employment to 43 thousand people in its offices and sales structures in Poland, Europe, Asia, and Africa. The company is listed on the Warsaw Stock Exchange in the WIG20 index and belongs to the prestigious MSCI Poland index.