Listed fuel Group Lotos's SA (WSE: LTS) supervisory board dismissed the firm's long-standing CEO Pawel Olechnowicz and named Robert Pietryszyn as acting CEO.

Paweł Olechnowicz led Lotos since 2002. At that time company operated under the name of Gdansk Refinery. This makes the manager longest-serving president in the history of a listed company.

Olechnowicz's potential dismissal has been subject of media speculation in the recent months.

Lotos SA Group is the oil company, which is engaged in the exploration and production of crude oil, its processing, wholesale and retail sale of high-quality petroleum products. In 2015 Lotos Group SA recorded a PLN 22.7 Billion consolidated revenue.