Corporate Governance

Board of Directors

Petros Petropoulos’s Board of Directors is elected by the Annual General Meeting of Shareholders and serves a five year term.

Nowadays, the Board of Directors consists of nine members, one executive member and eight non-executive and fully independent members; in the sense that they are not shareholders or that their shares do not exceed 0.5% of the Company’s Share Capital. Furthermore, they have no relationship or dependence on the Company or persons associated with it.

The Board Members are:

  • Michalis Michaloutsos Chairman of the Board of Directors
  • John P. Petropoulos, Managing Director & C.E.O.
  • Nikolaos N. Ebeoglou, Member & Chairman of the Nominations Committee
  • Efstathios E. Papageorgiou, Member & Chairman of the Audit Committee
  • John N. Filiotis, Member & Chairman of the Executive Compensation Committee
  • Ioannis M. Katouridis, Member
  • George P. Drakos, Member
  • Stefanos Manos, Member
  • Michael Economakis, Member
  • Constantine P. Petropoulos Chairman Emeritus

The Board of Directors holds four major meeting per year. The December meeting is devoted to approving the Business Plan and the Company’s strategy for the next year. The April, July, and October meetings deal with the progress of the Business Plan and long-term issues.

The Committees of the Board of Directors

Audit Committee consists of three non-executive and independent members. The Audit Committee has a wide range of auditing powers, including the exercise of control over the Internal Audit department that reports directly to it, validates the financial statements of the Group before their approval of the Board of Directors and proposes candidates of external auditors to be thereafter proposed by the Board of Directors to the AGM of Shareholders.

Executive Committee consists of six members of the Board, five of them are non-executive, independent members. Their objective is to determine the remunerations and the fees of Business Unit Managers as well as of the executive members of the Board, that is then approved by the AGM.

Nominations Committee consists of six members of the Board of Directors fiveof them are non-executive, independent members. The objectives of the Committee is to propose new qualified nominees eligible to serve as members of the Company’s Board and to plan for the succession and continuation of the Group’s Management.

Corporate Social Responsibility Committee consists of three members of the Board of Directors, two of them are non-executive, independent members. Their objective is to coordinate activities in the area of corporate social responsibility.