Current Report No. 39/2020: Appointment of Management Board member

The Management Board of KRUK S.A. (the “Company”) announces that on November 5th 2020 the Company’s Supervisory Board passed a resolution to appoint Adam Łodygowski as a member of the Company’s Management Board for a joint term of office, with effect from November 6th 2020. Accordingly, acting pursuant to Art. 7.2 of the Articles of Association of KRUK S.A., the Company’s Supervisory Board has passed a resolution today to set the number of Management Board members at five, with effect from November 6th 2020.

Information on the new Management Board member:

Adam Łodygowski

Dr Adam Łodygowski began his professional career in finance with UniCredit (London) in 2011 as a quantitative analyst responsible for the development of tools and stochastic analytics for valuation of derivatives and assessment of counterparty risk (XVA). Following promotions in 2012 and 2014, Mr Łodygowski continued to develop his competencies in mathematical analysis and technology (IT) as well as gaining experience in management. In 2016, he joined the Wrocław branch of Credit Suisse, where he was in charge of a team of quantitative analysts, statisticians and developers providing analytical, tool and technological solutions for key areas at the bank. In 2018, he was promoted to lead a 130-member analytical and technological group in Poland, supporting key business lines and technological solutions in the area of quantitative analysis and derivatives valuation. Since August 2020, he has been Managing Director of the risk assessment area at the KRUK Group.
 
In 2005, he graduated from the Poznań University of Technology and from the University of Hanover (Germany) in the field of numerical methods in construction, with a Master’s degree in Engineering. In 2006–2010, he studied and worked as an academic researcher at Louisiana State University (USA), specialising in numerical methods in mechanics and financial mathematics, and was awarded the title of Doctor of Science and a Master’s degree in financial mathematics, respectively.

The Company also announces that, according to his representation, Adam Łodygowski does not conduct any activities competing with the Company’s business, nor is he a partner in any competing partnership under civil law or another type of partnership, or a member of the governing body of any other competing legal entity. Adam Łodygowski is not entered in the Register of Insolvent Debtors maintained pursuant to the Act on the National Court Register.

Legal basis: Par. 5.5 of the Regulation of the Minister of Finance of March 29th 2018 on current and periodic information […]