The chairman and CEO of telecoms provider OTE Group, Michael Tsamaz, on Thursday announced his departure from the company after 14 years at its helm. Tsamaz said he will leave the OTE group in June 2024, when his contract expires.
In a related development, OTE’s board members unanimously voted on the same day to propose the election of Kostas Nebis as the new chairman of the board and CEO to succeed Tsamaz. A majority vote is required at the annual general shareholders’ meeting to elect a new CEO and chairman.
Nebis is currently the CEO of Hrvatski Telekom, the biggest telecoms group in Croatia and another majority-owned (53%) subsidiary of Deutsche Telekom Europe B.V.
Tsamaz began with the then state-controlled OTE in 2001, while leading the largest telephony provider in Greece after DT acquired a majority stake.
He is the longest servicing CEO and chairman in OTE’s history, beginning his tenure in the twin posts in November 2010, amid the tumultuous period that characterized the first institutional bailout of the Greek state at the time.
OTE and affiliated Cosmote mobile phone network have staked dominant roles in Greece’s telecoms sector, i.e. mobile telephony, mobile, subscriber television and ICT.
Source: tovima.com
Latest News
Oxford Economics Report: Greek Economy is Just Below Risk Zone
However, the report points to a persistent challenge in the form of commercial credit risk, which remains high at 8 out of 10, ranking Greece 104th internationally
Deadline for Postal Vote Registration Expires on Mon.
More than 157,000 Greek citizens had registered on the relevant online platform so far
Orthodox Palm Sunday Today; Shops Open in Greater Athens-Piraeus Area
Orthodox Holy Week begins on Monday, April 29, and ends on Sunday, Easter Sunday or Great and Holy Pascha (May 5)
Greek Retailers Remain Optimistic About Easter Shoppers’ Turnout
While stores are expected to be open on Sunday, April 28, the majority of Easter shoppers will likely do their shopping during the Holy Week, following the deposit of Easter bonuses
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway