A new board of directors for National Bank of Greece, the largest credit institution in the country, was finally announced on Wednesday afternoon ending a more than week-long impasse.
Specifically, objections by the Hellenic Financial Stability Fund (HFSF) were eventually overcome, thus allowing Panayiotis Thomopoulos to assume the position of chairman of the board as a non-executive member.
Petros Sabatakakis assumes the vice-chairman position, as an independent non-executive member, while Leonidas Fragiadakis was tapped as the CEO, serving also as an executive member of the board.
The trio, as well as the other names announced, is the exact same list of candidates previously cited.
According to reports, the HFSF raised its objections, but conditionally, while reserving the right to convene a general shareholders’ meeting, a prospect it alluded to in a press release only hours before the new board was announced on Wednesday.
