Christos Hasapis announced recently he will be stepping down as Bank of Cyprus chairman at the upcoming shareholders’ meeting in November 2014.
According to a bank announcement, Hasapis and two other board members will not stand for re-election, while the bank’s CEO John Patrick Hourican, elected on November 2013, will put himself up for re-election at the shareholders’ annual meeting to be held on November 20.
That meeting will also discuss the proposal by the banks’ new major shareholder Wilbur Ross, who has been nominated as vice-chairman of the board, for the replacement of the current board members with people he has proposed.
The announcement also said that the election of any new members of the board is subject to the Central Bank’s approval.
Source: Cyprus Mail
