PKN Orlen is to change its name. There is a proposal from Orlen management board members – when will the change take place?

Polski Koncern Naftowy Orlen is to change its name. The proposed change will reflect the current, actual form of the company’s operations and its strategic directions of development, indicated the members of the management board of the company from Płock. As they noted, the name is now centered around petroleum processing. PKN Orlen may change its name in June.

On Thursday, the Management Board of Polski Koncern Naftowy Orlen convened an ordinary general meeting of the company. The assembly is scheduled for June 21, 2010, and is scheduled to start at 11 am in Płock. One of the items on the agenda provides for adopting a resolution on amending the articles of association of an energy company.

“The proposed change concerns the change of the company from Polski Koncern Naftowy Orlen SA to Orlen SA,” reads the information signed by members of the management board of PKN Orlen, Armen Konrad Artwich and Jan Szewczak.

In their opinion, “the change of the company will make it possible to maintain consistency with the adopted Orlen 2030 Strategy in the field of building a multi-energy concern and building the global Orlen brand on foreign markets (rebranding process)”.

According to the authors of the draft resolution on this matter, the actions implemented by the company in 2022 and further development plans “implicate the need to change the perception of the brand, currently focused on crude oil processing”.

“The proposed change of the name will reflect the current, actual form of the company’s operations and its strategic development directions – it is planned that in 2023-26, approximately 66 percent of the Group’s value will be generated by segments not related to crude oil processing. the current member of the company is no longer adequate and consistent with the company’s vision and ambitions to expand the brand beyond the fuel segment.

They also noted that “the undertaking of new activities by the company in the field of, for example, renewable energy, electromobility or biogas and biomethane no longer associates the company only with the term ‘petroleum'”.

Moreover, the purpose of rebranding on foreign markets is to create a platform for the dynamic development of the Orlen brand and to significantly increase its value by unifying brands and coherent customer experience, which will lead to an increase in brand value, added Armen Konrad Artwich and Jan Szewczak in the letter.

President of PKN Orlen Daniel Obajtek in March this year. in an interview with the Polish Press Agency, he indicated that only the name “Orlen” and the white and red logo depicting a stylized eagle’s head are used in the visual identification of the company for marketing purposes.

These elements – as Obajtek assured – will not change, therefore a possible modification of the name is not to entail the need for rebranding. – This means that the whole process will be basically cost-free – said Daniel Obajtek in March.

Main photo source: MOZCO Mateusz Szymanski / Shutterstock