Committees
Investor Relations

Committees

Audit Committee

Τhe Audit Committee of MOTOR OIL (HELLAS) SA has been operating since 1996. Assists the Board of Directors in the fulfillment of its duties as it is informed about the results of the audits carried out by the Internal Audit Unit of the Company while at the same time it is informed by the statutory auditor about the results of the statutory audit as well as any weaknesses in the procedures relating to financial information and preparation of financial statements.

The current composition of the Audit Committee is the following:

Chair: Mr. Panayotis J. Constantaras (Independent according to the Law 4706/2020)

He was born in 1950. He is a graduate of the Athens Graduate School of Economics and Business Sciences (former ASOEE currently Athens University of Economics) and holds a Postgraduate Degree (M Sc.) from the London School of Economics (UK). From 1978 until 2011 he worked with Citibank Greece where for a series of years, he held the position of Managing Director of the Piraeus Shipping Unit of the Bank. He is Chairman of the Audit Committee of MOTOR OIL (HELLAS) S.A. and a Board member of two (2) credit institutions.

Members:

Mr Konstantinos N. Thanopoulos (Third Person)

He was born in 1949. He is a graduate of the Athens University of Economics, with postgraduate studies at UWIST (University of Wales) in Business Administration and Shipping. He worked in Shipping industry (Vardinoyannis Group) for 10 years as Chief Financial Officer and Director of Planning & Internal Audit. Additionally, he held the position of the Head of the Internal Audit Unit of MOTOR OIL (HELLAS) S.A. for more than 30 years. He has been a member of the Audit Committee of the Company since June 2018.

Mr Spyridon X. Kyritsis (Independent Third Person according to the Law 4706/2020)

He was born in 1965. He studied Economics at the National & Kapodistrian University of Athens and holds an MBA from the University of Wales, Cardiff Business School. He has a 30-year professional experience, of which the last 25 in the field of the Greek capital market and the financial system, both at institutional and corporate level. He is a senior manager of Financial Services at SOL Consulting S.A (a subsidiary company of SOL S.A.) a position that holds since 2014. From 2006 until 2013 he was a senior executive in the Bank of Cyprus in various disciplines (Personal Banking, Investment Banking & Custody Services, Asset Management). Moreover, from 1997 until 2006 he was a senior executive in the Athens Exchange in various positions (Director of Transactions and Listed Securities). He worked as financial controller at Thomas Cook Foreign Money Ltd (1994 – 1997) and as financial analyst at MOLNLYCKE HELLAS S.A. (1992-1994) and AVIN OIL S.A. (1991-1992). He also participates in the following boards:

– Chairman of the Board of the Association of Members of the Athens Exchanges

– Executive Vice Chairman of the Board of the Athens Stock Exchange Members Guarantee Fund

– Independent Non-Executive member of the Board of the HellenicAmerican Securities & Asset Management S.A

– Independent Non-Executive member of the Board of NBG Asset Management M.F.M

 

The obligations of the Audit Committee are described in the Law 4449/2017 as amended and in force by the Law 4706/2020.

Audit Committee Charter

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Audit Committee Report for the fiscal year 2020

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Remuneration & Nomination Committee

The Remuneration & Nomination Committee of the Company was established in June 2021. It is a joint Committee with responsibilities in accordance with articles 11 and 12 of the Law 4706/2020. The composition of the Committee is as follows:

Chair: Mrs Rania N-P Ekaterinari – Independent Non-Executive BoD member

Members:

  • Mr Dimitrios-Antonios A. Anyfantakis – Independent Non-Executive BoD member
  • Mrs Niki D. Stoufi – Non-Executive BoD member

Remuneration & Nomination Committee Charter

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Sustainability Committee

The Sustainability Committee was established in June 2021. Its role is to oversee, monitor and approve the Group’s Sustainable Strategy, set ESG targets, monitor the ESG performance, identify opportunities or ESG risks and decide on corrective actions.

The composition of the Committee is the following:

Chair:

Yannis V. Vardinoyannis (Executive Board member)

Members:

Petros Τ. Tzannetakis (Executive Board member)

John N. Kosmadakis (Executive Board member)

Michael-Matheos J. Stiakakis (Refinery General Manager)

Rania N-P Ekaterinari (Non-Executive / Independent Board member)

Niki D. Stoufi (Non-Executive Board member)

 

Convener: Helena Athoussaki – Head of ESG, Sustainability & Climate Change