Who will replace Paweł Borys at PFR? There is a favorite

According to unofficial findings of the Business Insider Polska website, Jakub Karnowski may be Paweł Borys’ successor as president of the Polish Development Fund (PFR). However, no final decisions have been made in this matter, and Karnowski is mentioned as a candidate for the head of other companies.

Karnowski at the head of PFR?

— In recent weeks, he has been approached for several companies, but recently his name has been mentioned mainly in the context of taking over the position of president of PFR. However, no final decisions have been made, although there is little time left – just over 2 weeks – a source close to the government tells the portal.

The person concerned has not yet commented on the matter.

Jakub Karnowski is currently an independent member of the supervisory board of the Ukrainian Post Ukrposhta, where he also serves as the chairman of the Audit Committee. He was selected for this position by international financial institutions.

In the past, Karnowski was an assistant, advisor, and then head of the political cabinet of Leszek Balcerowicz, during his second term in office at the Ministry of Finance (1997-2000). When Balcerowicz became president of the National Bank of Poland (NBP) at the beginning of 2001, Karnowski became his advisor and later director of the NBP Foreign Department (2001–2003). He also sat on the Foreign Exchange Reserves Investment Committee of the central bank. In the years 2003–2008 he worked in the World Bank group in Washington as deputy executive director. After returning to the country, he became the president of the management board of PKO Towarzystwo Funduszy Inwestycyjnych SA. In the years 2012-2015 he was the president of PKP. He resigned after Law and Justice took power.

Boris leaves

The current head of PFR, Paweł Borys, announced a month ago that he would leave his position at the end of this year. – My mission as president of the Polish Development Fund is coming to an end! I have made the decision to return to the private financial market in 2024. He will announce his new role in January. The term of office of the entire PFR management board expires in 2023, I will not run for re-election and I will finish serving as PFR president at the end of this year. At the same time, he will also resign from the position of Chairman of the Supervisory Board of BGK – Borys wrote on the X platform (formerly Twitter).