Postbank Adopts Two-Tier Management System

Postbank Adopts Two-Tier Management System

The Extraordinary General Meeting of the Shareholders of Postbank (legally named Eurobank EFG Bulgaria) approved changes in the corporate governance and adopted a two-tier system comprising of two separate bodies - a Supervisory Board and a Management Board. These changes improve the management of the Bank as they segregate the duties of managing the institution and of supervising and controlling the management activities.

The Meeting elected the following members of the Supervisory Board: Piergiorgio Pradelli, Theodoros Karakasis, Evangelos Kavvalos, Nikolaos Aliprantis and Christos Adam. Members of the Supervisory Board will serve for a term of three years and will not be involved in the daily management of the bank. The Meeting also voted a new Statute of the Bank, which establishes the rules for its internal governance by the two-tier system. The new statute will be published on the bank website at: after the changes are entered into the Trade Register.

After its election the Supervisory Board convened for its first session and appointed the bank's Management Board. Members of the Management Board are Anthony Hassiotis - Chief Executive Officer, Petia Dimitrova - Executive Officer and CFO, Iordan Souvandjiev, Yiannis Vouyioukas and Ilian Raychev. The Management Board elected Anthony Hassiotis as its Chairman. Тhe changes will be effective after they are entered into the Trade Register.


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