SSM email halts Piraeus’s CEO selection

15 December 2016
871 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Sources said that one of the two candidates has withdrawn his candidacy in view of the SSM intervention.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

Odysseus’s Ithaca – Five beautiful beaches you must visit
GREECE
shares11 views
GREECE
shares11 views

Odysseus’s Ithaca – Five beautiful beaches you must visit

Panos - Jul 27, 2021

Ithaca is one of those hidden gems that Greece has to offer the inquiring traveller. The island, known as the…

Turkish businessman pays €76,000 fine in Mykonos for Covid-19 violation on yacht (video)
FINANCE
shares22 views
FINANCE
shares22 views

Turkish businessman pays €76,000 fine in Mykonos for Covid-19 violation on yacht (video)

Panos - Jul 27, 2021

A Turkish yacht owner paid a total of €76,000 for violating Covid-19 regulations in Mykonos. The businessman was fined for…

Weather Greece: 10-day heatwave coming
GREECE
shares14 views
GREECE
shares14 views

Weather Greece: 10-day heatwave coming

Panos - Jul 27, 2021

A 10-day heatwave starts in western Greece today with temperatures that will reach and exceed 40 degrees Celsius. Meteorologists warn…

Leave a Comment

Your email address will not be published.