Announcement

Hellenic Telecomms Organization S A

14 December 2023

 

Announcement

Athens, December 14, 2023 - Hellenic Telecommunications Organization S.A. ("OTE S.A." or the "Company"), announces that Michael Tsamaz, Chief Executive Officer and Chairman of the OTE Board of Directors, has decided to leave the company end of June 2024, upon the expiration of his existing contract. The Board of Directors of OTE, during its meeting held today, unanimously decided, in accordance with the relevant proposal of its Remuneration and Nomination Committee, to recommend to the Annual General Shareholders Meeting of OTE S.A. the election of Kostas Nebis, in order for him to be appointed as new Chairman and Chief Executive Officer, effective July 1, 2024, and approved the terms of his contract. The BoD expressed its confidence that Kostas Nebis will continue the further growth of the OTE Group.

Michael Tsamaz is OTE's longest-serving Chairman and CEO, having assumed this position in November 2010. Placing customer experience as a top priority, he led the successful transformation of OTE into a modern, high performing technology company, with strong financial foundations. During his tenure, OTE not only became the largest investor in new generation networks and technological infrastructure in Greece, contributing decisively to the digitalization of the country, society and businesses, but also a leader in all core telco segments: Fixed, Mobile, Pay TV, and ICT. In addition, it launched start-ups in non-core sectors such as FinTech, food delivery and insurance aggregation. The vision he set for the company for 2030, is to develop into a leading sustainable digital services provider, aiming at continuous improvement of shareholders value.

Kostas Nebis has been the Chief Executive Officer and President of the Management Board of Hrvatski Telekom, Deutsche Telekom majority owned company in Croatia, since April 2019. From this position, he managed the turnaround of the company, focusing on employee and customer satisfaction while delivering strong business results accelerating growth while defending the leading position in the market with leading investments in gigabit infrastructure and digital solutions. He has extensive experience, of more than 20 years, in the telecommunications industry. Prior to Hrvatski Telekom, he held the position of Chief Commercial Officer for Residential Customers in OTE Group and the position of Marketing Director in COSMOTE Greece.

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