BOC Chairman Rologis resigns

Bank of Cyprus Pcl Chairman Vassilis Rologis tenders in his resignation following a major board battle on Thursday after intense reports of short-comings and responsibility over the way the Emporiki bid was made and then withdrawn.

In a signed letter released by the office of Rologis, a copy of which has been obtained by the Financial Mirror, Rologis said “I decided to resign from the position of the President of the Bank and my letter of resignation will be given to the Board at the next meeting, scheduled to be held on September 7, 2006.”

“I have served the Bank through long time service on the Board and as Chairman, always having in mind the best interests of the Bank and shareholders.”

“Even though there is no specific reason for which I’m tendering in my resignation, yet, for the sake of the Bank and for its future, I have decided to resign,” concluded Rologis.