Polish Insurer PZU Picks CEO Amid Uncertainty Over Strategy (1)

PZU SA named Bogdan Benczak as its new chief executive officer as Poland’s biggest insurer seeks to reassure investors about its strategic goals. The stock fell.

Benczak, who recently served as PZU’s managing director for corporate affairs, is the company’s third CEO in the last 16 months after its previous head, Andrzej Klesyk, was unexpectedly fired last month.

Klesyk was an advocate of a tie-up with Bank Pekao SA, envisaging putting PZU under Pekao control and allowing the group to benefit from favorable EU regulatory treatment for banks with stakes in insurers ahead of new capital requirements in ...