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Marios Kalochoritis Appointed As Senior Advisor to John Hourican

Marios Kalochoritis Appointed As Senior Advisor to John Hourican

Bank of Cyprus Holdings Public Limited Company announced that it has appointed Marios Kalochoritis as a Senior Advisor to the Group Chief Executive Officer. In his role as Senior Advisor, Kalochoritis will oversee and help manage certain of the assets and exposures that were acquired by Bank of Cyprus Public Company Limited during the recent economic turmoil. In that capacity, he will join the boards of a number of companies in which the Bank has significant economic interests. He will represent and advise the Bank in managing the value of these investments.

Kalochoritis has been a member of the Boards of Directors of BOC Holdings since the end of 2016 and of the Bank since 2013. During this time, he has played an important role in steering the Bank back to safety during this very turbulent time. In his new role, Kalochoritis will draw on his own experience as a successful banker, manager and businessman, as well as the valuable insight into the Group that he has acquired while serving on the Boards. Kalochoritis stressed his excitement in taking up this new role and becoming an active partner for the Bank in managing its exposures to protect and create value.

With this change in his role, and in line with good governance, Kalochoritis stepped down from the Boards, as well as from the relevant Risk Committee (RC) and Human Resources and Remuneration Committee (HRRC) in order to focus on his new responsibilities. The members of the Board of BOC Holdings wish to acknowledge the tremendous commitment Kalochoritis has shown to the Group during his time as Director. The members of the Board of BOC Holdings thank him for his invaluable contribution to the turnaround delivered at the Bank this far and look forward to the contributions he will make in his new role.

It has been further decided to appoint Anat Bar-Gera to the HRRC to replace Kalochoritis. Bar-Gera’s appointment will become effective upon her approval as member of the Board of Directors of the Bank by the European Central Bank (ECB). In view of the above, the composition of the RC and the HRRC is adjusted as follows:

 

Risk Committee (RC) Arne Berggren (Chairman) Maksim Goldman

Yiannis Zographakis

James Lockhart (subject to ECB approval)

 

Human Resources & Remuneration Committee (HRRC)

Michael Spanos (Chairman) Michael Heger

Anat Bar-Gera (subject to ECB approval)

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