SSM email halts Piraeus’s CEO selection

15 December 2016
855 Views

Wednesday’s Piraeus Bank board meeting, during which a new chief executive officer was supposed to be elected for the lender, was unexpectedly suspended as an email from the European Central Bank’s Single Supervisory Mechanism (SSM) arrived asking for the process to be stopped so that the two short-listed candidates could be examined further.

Piraeus Group officials spoke of a coup by the European supervisory authority, warning that the intervention may generate more problems not only for the lender but also the entire Greek credit system.

Sources said that one of the two candidates has withdrawn his candidacy in view of the SSM intervention.

After consultation with the Hellenic Financial Stability Fund (HFSF), it was decided that the board meeting would resume on Friday, with Piraeus issuing a statement saying that “the Governing Board’s consultations continue in relation to the selection of a new CEO, and will shortly [issue] fresh statements.”

You may be interested

Roland Garros: Tsitsipas advanced to the final!
GREECE
shares41 views
GREECE
shares41 views

Roland Garros: Tsitsipas advanced to the final!

makis - Jun 11, 2021

On February 19, Stefanos Tsitsipas, having lost almost his hands to Daniel Medvedev in the semifinals of the Australian Open,…

“Memphis Belle”: The legendary B-17 & the Greek twist of the story (photos)
GREECE
shares48 views
GREECE
shares48 views

“Memphis Belle”: The legendary B-17 & the Greek twist of the story (photos)

Panos - Jun 11, 2021

The reason for “Memphis Belle” being a legend? Belle was one of the first heavy bomber aircraft to complete 25…

Corinthian raisins: The Greek “superfood”
FINANCE
shares35 views
FINANCE
shares35 views

Corinthian raisins: The Greek “superfood”

Panos - Jun 11, 2021

It is considered one of the ‘superfoods’ produced in the Greek land, as it provides a multitude of nutrients. Corinthian…

Leave a Comment

Your email address will not be published.