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Battlefield over two seats on Hellenic Bank’s board

August 12, 2019 at 9:42am
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Hellenic Bank’s Annual General Meeting set for August 28 in Nicosia may turn into a battlefield between two candidates of different nationalities.

The ‘battle’ will be between Wargaming’s Belarusian-born co-founder and CEO Victor Kislyi, and one of the three proposed candidates by Demetra Investment, a company of Cypriot interests.

These are Michael Spanos, an economist and former Bank of Cyprus board member, Marios Maratheftis who is a senior analyst at Standard Chartered Bank of England and Marco Comastri, advisor at Primary Private Equity and Microsoft’s former vice president for Middle East and Africa.

Out of a total of 18 candidates, whom Central Bank of Cyprus is now evaluating, five were proposed by Nicosia-headquartered Wargaming – a Belarusian video game company. They are Marianna Pantelidou, Stephen John Albutt, Euripides Polycarpou, Ioannis Georgoulas and Irena Georgiadou.

Pantelidou is an incumbent non-independent board director since she is a Wargaming executive. Albutt is an incumbent board member and he is proposed as an independent non-executive director. Polycarpou is an incumbent board member who is proposed as an independent non-executive director. Georgoulas, who is Cyprus General Manager of The Economist is proposed as an independent non-executive board member. And Georgiadou is an incumbent board member who has also served as Chairman of the Board. She is now proposed as an independent non-executive director.

Third Point, a US-based fund which holds a 12% stake in Hellenic’s capital, has proposed incumbent CEO David Bonanno to be re-elected as a non-executive director, and Kyriaki Pilia as also a non-executive board member.

At the same time, both Ioannis Matsis, Hellenic Bank’s CEO and CFO Lars Kramer, who are incumbent executive board directors, are seeking re-election.

And Pimco Investment Fund is seeking the re-election of Kristofer Richard Kraus as a non-independent director. He was recently appointed as board member after receiving supervisory approval. Pimco also nominated John Charles Crystal, a former banker, as an independent non-executive director.

 

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Hellenic Bank posts profits of €14.9 million in first quarter 2019