Wanda Rapaczynski, the face of Polish media giant Agora between 1998 and 2007, will soon be back in her old position at the head of the firm. The move comes after the resignation of Piotr Niemczycki, who had led the company since 2008. Ms Rapaczynski had been serving on the firm's supervisory board. She will lead the company only temporarily – for three months starting on February 12.
No reasons were given for Mr Niemczycki's resignation, but it comes two weeks before the firm publishes its 2012 results. The company's flagship newspaper, Gazeta Wyborcza – Poland's highest-circulating quality daily – has fallen sharply in recent years. In 2012 it fell below 400,000 copies, compared to a circulation of over 600,000 in 2007. During Mr Niemczycki's tenure, Agora's stock has fallen by around 50 percent. In the first three quarters it posted a net loss of zł.9 million.
Along with its newspapers, Agora owns several radio stations, magazines and websites, as well as a chain of cinemas and an outdoor advertising agency.
From Warsaw Business Journal
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