Greece’s privatization fund, the Hellenic Republic Asset Development Fund (HRADF), on Monday announced a board of directors’ reshuffle, in line with a relevant decision by the Hellenic Corporation of Assets and Participations (HCAP), the fund’s sole shareholder.
Aris Xenofos takes over as chairman, while a board position was also taken up by Giorgos Marinos as a non-executive member.
The new HRADF board composition is as follows:
Xenofos, chairman of the board; Riccardo Lambiris, CEO and board member; Lila Tsitsogiannopoulou, non-executive member of the board of directors; Angelos Vlachos, non-executive member of the board of directors; Marinos, non-executive member of the board of directors.
The term of office of all the members of the board is due to expire on July 1, 2020.
“We have completed a cycle in the management of HRADF, carrying out major projects, the most significant of which being the privatization of TRAINOSE, the extension of the AIA Concession Agreement for €600 million, the sale of 67% of ThPA for €231.9 million, and proceeding with the new DESFA tender, making decisive steps to complete the agreement for Hellinikon,” according to Lila Tsitsogiannopoulou, the outgoing chair of HRADF.
She added that “…the privatization of PPA, the concession of the 14 regional airports, the sale of Asteras and the signing of 34 real estate contracts with a total value of around €200 million shall be included. We move forward, because we believe that the privatization program decisively contributes to the Greek economy’s growth track by attracting significant direct investments and, very soon, the tenders for the concession of important assets such as Egnatia Odos and the marinas of Alimos and Chios will be announced”.
