Bank of Cyprus Holdings PLC Changes in the composition of the BOD & Committees (4556X)
20 Dezember 2023 - 9:32AM
UK Regulatory
TIDMBOCH
RNS Number : 4556X
Bank of Cyprus Holdings PLC
20 December 2023
Announ cement
Changes in the composition of the Boards of Directors and
Committees
Nicosia, 20 December 2023
Group Profile
The Bank of Cyprus Group is the leading banking and financial
services group in Cyprus, providing a wide range of financial
products and services which include retail and commercial banking,
finance, factoring, investment banking, brokerage, fund management,
private banking, life and general insurance. At 30 September 2023,
the Bank of Cyprus Group operated through a total of 64 branches in
Cyprus, of which 4 operated as cash offices. The Bank of Cyprus
Group employed 2,913 staff worldwide. At 30 September 2023, the
Group's Total Assets amounted to EUR26.4 bn and Total Equity was
EUR2.4 bn. The Bank of Cyprus Group comprises Bank of Cyprus
Holdings Public Limited Company, its subsidiary Bank of Cyprus
Public Company Limited and its subsidiaries.
Bank of Cyprus Holdings Public Limited Company ('BOC Holdings'
and, together with its subsidiaries, the 'Group'), and Bank of
Cyprus Public Company Limited (the 'Bank') announce that at their
respective Board meetings held on 19 December 2023, the Boards
decided the following:
1. Resignation of Mrs Paula Hadjisotiriou and Mr Ioannis Zographakis from the Board of Directors
The acceptance of the resignation of Mrs Paula Hadjisotiriou and
Mr Ioannis Zographakis from their respective positions as members
of the Board of Directors of each of BOC Holdings and the Bank,
with effect from 31 December 2023. Both Mrs P.Hadjisotiriou and Mr
I. Zographakis submitted letters of their resignation due to
personal reasons.
Mr I. Zographakis has been a member of both Boards for a number
of years and has already completed his tenure as an independent
Board member.
The Board s of Directors of BOC Holdings and the Bank thanked
Mrs P. Hadjisotiriou and Mr I. Zographakis for their valuable
contribution to the Group over the years and wished them every
success for the future .
2. Changes in the composition of the Committees
The following changes to the composition of the Committees with
effect as from 1 January 2024:
Risk Committee (RC)
Monique Hemerijck (Chair)
Lyn Grobler
Adrian Lewis
Audit Committee (AC)
Constantine Iordanou (Chair)
Adrian Lewis
Monique Hemerijck
Nominations and Corporate Governance Committee (NCGC)
Takis Arapoglou (Chair)
Lyn Grobler
Adrian Lewis
Human Resources & Remuneration Committee (HRRC)
Lyn Grobler (Chair)
Monique Hemerijck
Constantine Iordanou
Technology Committee (TC)
Constantine Iordanou (Chair)
Monique Hemerijck
Adrian Lewis
BOC Holdings and the Bank note that:
- the aforementioned changes to the composition of the
Committees have been made so that BOC Holdings and the Bank comply,
to the extent possible, with certain corporate governance
requirements of the Central Bank of Cyprus with respect to the
composition of their respective Boards and Committees (the
'Governance Requirements');
- they have already nominated two persons for appointment as
Non-Executive Independent Directors of their respective Boards and
that the relevant applications for the approval of such persons by
the regulatory authorities were submitted and are currently pending
for approval ;
- upon the appointment of the aforementioned persons to the
Boards, the composition of the Committees shall be reconsidered so
that there is full compliance with the Governance Requirements.
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END
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