HELLENIC PETROLEUM SA BOARD OF DIRECTORS
Board of Directors (BoD)
The Company is managed by 11 members of the Board, as shown below, for a term of 3 years, ending on 30/06/2024; the term of the BoD is extended until the final date that the ordinary shareholders’ meeting can be convened, pursuant to article 20 of the company’s Articles of Association.
- Ioannis Papathanasiou, Chairman, non-executive member
- Andreas Shiamishis, Chief Executive Officer-executive member
- Georgios Alexopoulos, executive member
- Iordanis Aivazis, non-executive member
- Theodoros-Achilleas Vardas, non-executive member
- Nikolaos Vrettos, independent non executive member
- Anastasia Martseki, non-executive member
- Alexandros Metaxas, non-executive member
- Lorraine Skaramanga, independent non executive member
- Panayiotis Tridimas, independent non executive member
- Alkiviades- Constantinos Psarras, non-executive member
Roles and Responsibilities of the BoD
The Board of Directors is the supreme governing body of the company and primarily sets the strategy and development policy and supervises and controls the administration of the Company’s assets. The composition and status of the members of the Board are established by the law and the Company´s Articles of Association. The obligation and foremost duty of the Board Members is the constant pursuit of enhancing the Company’s long-term economic value and the protection of the general corporate interest.
To achieve the Company’s corporate objectives and smooth operation, the Board may delegate some of its powers, except those that require collective action, as well as the management, administration or management of the affairs or the representation to the Company's CEO, to one or more of its members or to managers or officers of the Company. Board Members and any third party, entrusted with responsibilities by the Board, are prohibited to pursue his/her own interests against the interests of the Company. Members of the Board and any third party, entrusted with responsibilities, must promptly disclose to the other members of the Board, their own interests, which may arise from the Company’s transactions, whilst they are in office as well as any other conflict of their own interests, with those of the Company or affiliates that arise in the course of their duties.
Indicatively, the BoD, approves, upon the recommendation of the CEO:
- The Business Plan of the Company and the Group.
- The Annual Business Plan and Budget of the Company and the Group.
- Any necessary change to the above.
- The issuance of ordinary bond loans.
- The Annual Report of transactions between the Company and its associated companies.
- The Annual and Interim Financial Reports, including the Financial Statements of the Company and the Group.
- The establishment of / participation in companies or joint ventures, company acquisitions, installation or termination of facilities – in all cases of such transactions with minimum value of €1 million in each case.
- The agreements for participation in consortia for the exploration and production of hydrocarbons.
- The final termination of manufacturing operations.
- The regulations that govern the operation of the Company and any amendments to them.
- The basic organizational structure of the Company and any amendments to it.
- The appointment / dismissal of General Managers.
- The Collective Labour Agreement (CCLA).
- The Internal Operating Regulation.
- The determination of the Company’s remuneration policy of the Management Team.
- The hiring processes for executives and the assessment of their performance.
- Any other matter stipulated by the existing Company regulations.
Composition of the Board
The Board consists of executive, non-executive and independent non-executive members. The number of the independent non-executive members cannot be less than 1/3 of the total number of the board members.
Chairman of the Board
The Chairman of the Board is responsible to preside over and administer the meetings of the Board, sign the respective decisions and performs all acts that fall under his responsibilities according to the Company’s Articles of Association and the law.
The Chief Executive Officer is the legal representative of the company and has the responsibility of all business units and fuctions.