Laiki Managers told to perform, otherwise go home

Laiki Bank top managers were sent a powerful warning to perform and adapt to the new culture of serving shareholder interest, or pack up and go home.

The stark warning was given by Andreas Vgenopoulos, Vice-Chairman and CEO of Marfin Financial Group, who during a press briefing in Nicosia said that, “from now on, its all about boosting shareholder value.”

The statement comes as music to the ears of thousands of Laiki shareholders who have seen the value of their shares decline from CYP 13 to CYP 2.5 per share with the previous Board and Management taking no measures to alleviate the situation.

(full report in Research section in CSE news or print edition of Financial Mirror of July 19)