THE Warsaw Stock Exchange (WSE), the biggest exchange in central and eastern Europe, has replaced its president and CEO, Ludwik Sobolewski, over conflict-of-interest allegations, naming Adam Maciejewski, his deputy, to the top job.
At issue are allegations that Sobolewski, 47, used a WSE employee to solicit funding from listed companies to finance a movie starring his actress-girlfriend.
The WSE board ruled his activities "violated business ethics".
Maciejewski, 45, has worked in various capacities for the WSE since 1994, including management of the trading, and trading and market development departments.
He joined the management board in 2006, where he was responsible for the derivatives and structured products market, transaction systems, technology, trading and data vending.
Nearly 900 companies are quoted on the exchange, worth nearly 700 billion zloty ($A215 billion) in total.
The first bell on the WSE trading floor rang in 1991 after the collapse of Communism in Poland two years earlier.
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