Corporate Governance

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As a public company, Cyfrowy Polsat is required to meet the most demanding management standards. Therefore, our objective is to manage the Company in a transparent and predictable manner, with a focus on value creation. This fosters confidence with our investors in Poland and abroad, with the financial markets, our customers, trading partners, and also Group employees. 

General Meeting

The General Meeting has the powers provided for in the Commercial Companies Code. These include approving financial statements, deciding on distribution of profit or coverage of loss, and granting discharge to Management Board members in respect of their duties. Rules of operation of the General Meeting are described in detail in the Articles of Association and the Rules of Procedure for the General Meeting.

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Supervisory Board

The Supervisory Board exercises ongoing supervision over all aspects of the Company’s operations. The exclusive powers of the Supervisory Board include appointment and removal from office of the Management Board members, determination of their remuneration, appointment of the auditor, and approval of the terms and conditions of material related-party transactions. The manner of operation of the Supervisory Board is regulated in detail in the Company’s Articles of Association and the Rules of Procedure for the Supervisory Board.

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Management Board

As the executive body of the Cyfrowy Polsat Group, the Management Board is obliged to serve the interests of the entire Group, seeking to achieve sustainable growth of the Group value. The Management Board operates in accordance with applicable laws and regulations, including in particular the Polish Commercial Companies Code, as well as the Company’s Articles of Association and Rules of Procedure for the Management Board.

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WSE best practice

In Poland, the principles of corporate governance have been compiled in the Code of Best Practice for WSE Listed Companies. Its objective is to enhance the transparency of listed companies, improve the quality of their communication with investors and strengthen the protection of shareholder rights, also in areas which are not regulated by law. The Code of Best Practice relates to areas in which its application may have a positive effect on the market valuation of companies and, consequently, reduce costs of raising capital.

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Last updated 02/26/2015