LOT Polish Airlines CEO Dariusz Nowak has resigned in a move many in Poland link to the carrier's growing losses and difficulties in finalizing a privatization proposal.

The airline, which is majority owned by the government, immediately named a director from global consultancy Deloitte as its new president. The new executive, Sebastian Mikosz, assumes his role on March 9.

"LOT has an established position on the European and global air transport market. I will do my best to strengthen this position and to build up trust both among our passengers and business partners," Mikosz said in a release.

"I am convinced that LOT is capable of becoming a prosperous and stable company," he added.

While at Deloitte, Mikosz was charged with developing business consulting services for the public sector and raising foreign investment, LOT noted in its release.

In addition to naming the new President, LOT's supervisory board in a March 4 extraordinary meeting "dismissed" Chairman Jacek Ksen and replaced him with Jacek Krawczyk.

The Polish government last year announced its intent to sell a 49% stake in LOT.

Photo credit: LOT Polish Airlines