1. Workshop on Corporate Governance Chisinau, 14-15 May 2012 Corporate Governance in transition economies Joanna Banach Legal Department Polish Financial Supervision Authority

3. Corporate governance understood and implemented Change of the market reality Change in management’s way of thinking required

4. Profit Growth Takeover Companies’ goals

5. Profit, development, takeover Long-term demand > supply WHEN? ONLY when you trust that the investment will bring profit

6. Trust? Where can I buy it from? And does it have a price? Information Equal treatment TRUST

7. Press, rumours Corporate governance Hard law

8. 2 MUSTs and 1 DON’T

10. Cost reduction

12. NEW dynamics … NEW approach Why do I do it? ….. OK!!! Is it worth your effort?

13. Yes, thank you!