Galanos resigns from Hellenic Bank

Panos Galanos, Executive Chairman of the Hellenic Bank Group submitted his resignation from the Board and from his executive duties following a show-down with the Church.

Hellenic Bank announced that Galanos will remain in his Executive position until July 31 to ensure a smooth transition of power, adding that he will not seek reelection today to the Board of Directors of the Bank, during the Annual General Meeting of shareholders.

Key allies of Galanos, Georgos Lycourgos and Chrysostomos Theokli have also decided to join Galanos in not seeking reelection to the Board, paving the way for a major reshuffle of the Board and the appointment of a new CEO of the Bank, in line with a restructuring report prepared by Mackinsley.