Krzysztof Folta: new role in supporting the development of TIM SA

Krzysztof Folta, one of the founders and since 1995 continuously the President of the Management Board of TIM SA, decided not to apply for appointment to the Company’s Management Board for another term. At the same time the Würth Group, being 100 per cent shareholder of TIM SA, has proposed to Krzysztof Folta to join the new composition of TIM Supervisory Board as its chairman. The proposal has been accepted.

In June 2024, on the date of the Annual General Meeting of Shareholders of TIM S.A. approving the financial statement of TIM SA for 2023, the term of office of the Management Board of TIM SA is finished. On 1 July 2024 Krzysztof Folta will be appointed Chairman of the Supervisory Board of TIM SA.

“The year 2024 is not only the end of another term of the Management Board of TIM SA with me in its composition and the joining of TIM to the international Würth Group”, says Krzysztof Folta, President of the Management Board of TIM SA, “It is also the year of the 40th anniversary of my professional activity, which began with the position of Plant Manager at the Unita Youth Work Cooperative in Wrocław”. I decided it was a good time to change my perspective from management to supervisory, while continuing to strategically support TIM in its dynamic growth. I am deeply grateful for the cooperation to all those people with whom I have had the pleasure of building and developing TIM over al those years”, he adds.

The Management Board of TIM SA of the new term will be composed of two equal members and will be formed by two of its existing members: Commercial Director Piotr Nosal and Chief Financial Officer Piotr Tokarczuk.

“We would like to thank the President of the Management Board Krzysztof Folta for almost thirty-seven years of his service to TIM. At the same time, we are very pleased that he has decided to continue to support the Company. We are convinced that in his position as Chairman of the Supervisory Board he will share with us his knowledge, experience and visionary approach to doing business”, emphasises Piotr Tokarczuk, Member of the Management Board and Chief Financial Officer of TIM SA.

During the new terms of the Management Board and Supervisory Board of the Company TIM will continue to implement its existing development strategy (presented in 2022) with the support of a new investor, the Würth Group.

“We are aware that the absence of Krzysztof Folta, a person so far inextricably linked with the TIM and brands, from the new Management Board is a significant event for the entire electro-technology distribution industry in Poland”, notes Piotr Nosal, Member of the Management Board and Commercial Director of TIM SA, “However, we would like to emphasise that for our suppliers and customers, nothing changes. Cooperating in partnership we create long-term relationships, thus being the best electrical engineering centre for professionals in Poland”, he adds.