Press Release of HCAP

Press Release of HCAP

Law 4512/2018 recently amended Law 4389/2016 on HCAP. Inter alia, the new Law abolished the establishment of EDIS, transferred the State’s participations in the State Owned Enterprises (SOEs) directly to HCAP and increased the maximum number of members of HCAP’s Board of Directors, from seven (7) to nine (9). Following these amendments and due to the consequent enhanced responsibilities of HCAP, the Supervisory Board initiated the procedure for seeking additional non-executive members. As provided under the relevant law, a firm of international repute, Stanton Chase, supported the Supervisory Board in the selection process.

The Supervisory Board screened the profiles of candidates on the basis of the requisite criteria (professional experience in HCAP’s sectors, ability to understand the dynamic of the State Owned Enterprises, etc.) in accordance with the relevant Call for Expression of Interest that had been posted on HCAP’s website on 28 February 2018.

In selecting the new non-executive Board of Directors members, the Supervisory Board, in consultation with its advisors, conducted personal interviews with each of the identified candidates in order to assess their knowledge and expertise on business, management, the global economy, the wider economic role of HCAP in the Greek economy, as well as the role of SOEs and public property within the context of the long-term challenges the Greek economy is facing, including structural and fiscal reforms.

On the basis of the above, the Supervisory Board unanimously decided on 31.3.2018 to select and appoint Ms. Hiro Athanassiou and Mr. Fragiskos Gratsonis as additional non-executive independent members of HCAP’s Board of Directors with a term of four (4) years. The brief CVs of the new members are the following:

Hiro Athanassiou, non-executive member

Born in 1960, she holds a BA degree from Deree College and a MSc from London School of Economics. She has a long and successful professional career in Unilever, holding successively the position of VP in Marketing for Greece and Cyprus (2006 – 2010); SVP Operations for L. America, South and Eastern Europe, Russia, Turkey and Israel (2010 – 2014); the position of EVP and Managing Director for Greece and Cyprus (2014 – 2018). She currently holds the position of independent non-executive member of the Board of TITAN and she is a Board Member of SEV, IOVE and SEET. She is mentoring start-ups for Orange Grove –Dutch Embassy. Her areas of expertise include strategic development, marketing and organizational restructuring.

Fragiskos Gratsonis, non-executive member

Born in 1967, he holds a B.A degree in Economics from the University of Athens and an MBA from New York University, Leonard Stern School of Business. He has a long and diverse board membership experience – both national and international – in corporate business, finance and investment banking. Senior positions held include: CFO for FF Group (2013 – today); Credit Agricole / Emporiki Bank as senior banker (2007 – 2013). Previously he worked for BNP Paribas and Citibank in the areas of corporate investment and institutional banking. His areas of expertise include strategic corporate investment, finance, audit and risk management

The primary objective for the hiring of the new Board members with proven expertise, competence and know how in particular business sectors, is to complement and enhance the well-functioning, competence and efficiency of the existing Board members in a joint effort to better understand the challenges and prospects of SOEs which have come under HCAP’s supervision and management. The Supervisory Board is confident that the new HCAP Board will fulfil its mandate, accomplish its business objectives and serve the public interest, promptly and efficiently.