S&B Industrial Minerals S.A. announces that its Board of Directors, in its meeting of 15/11/2007, has decided the following organization changes, which will be fully effective as of January 1, 2008.
A new business Division, the Geothermy Division is being established with the aim to explore, evaluate and capitalize on the new prospects for development of the S&B Group into a new business field that have opened up, after the signature of the MOU with PPC Renewables S.A. (relevant announcement of 6/11/2007).
Mr. Constantine Capayannides, Managing Director of the Group's subsidiary Motodynamics S.A. since 1995, will lead this new activity. Mr. Capayannides has studied Mechanical Engineering at the University of Karlshrue and Business Administration at the REFA Institute in Germany. He has been with the Group since 1989 and for the period 1990-1994 served as Bentonite General Manager. Furthermore, Mr. Capayannides will supervise the existing Real Estate Enterprises function.
Mr. Sotiris Hatzikos, Chief Financial Officer since 2004, is appointed Managing Director of Motodynamics S.A. (by decision of the Board of Directors of Motodynamics S.A). Mr Hatzikos has studied Economics and Business Administration (BA) at the University of Thessaloniki and received his MBA from the Manchester Business School. He has been with the Company since 1994.
Mr. Kriton Anavlavis, Bentonite Division General Manager since 1995, will assume the position of Chief Financial Officer. Mr. Anavlavis has studied Marine engineering at the University of Newcastle Upon Tyne (BSc, MSc) and received his MBA from INSEAD. He has been with the Company since 1990.
Mr. Yanni Paniaras, Foundry Business Unit Manager of the Bentonite Division since 2005, will assume the position of Bentonite Division General Manager. Mr. Paniaras has studied Civil Engineering at Imperial College, London, UK (BSc, MSc) and received his MBA from INSEAD. He has been with the Company since 1997.
Mr. Thomas Androulakis, Perlite Division General Manager since 2000, will lead the two Divisions of Bauxite and Otavi, assuming the position of Division General Manager with the aim to develop both businesses and to exploit possible synergies between them. Mr. Androulakis has studied Chemical Engineering at the National Technical University of Athens and received a Masters Degree in Management Science and a Masters Degree in Advanced Chemical Engineering, both from Imperial College, London, UK. He has been with the Company since 1991.
Mr. Aris Chatziparaskevas, Otavi Division General Manager since 2005, will assume the position of Perlite Division General Manager. Mr. Chatziparaskevas has studied Mechanical / Production Engineering at the National Technical University of Athens. He has been with the Company since 1996.
Mr. Dimitri Contaroudas, Bauxite Division General Manager since 2000, after serving for 20 years in several leadership roles, will be retiring from the Company.
With the above new configuration of leadership roles, the S&B Group is aiming to pursue its growth strategy, to achieve its vision (to become one of the leading industrial minerals companies in the world in enterprise value), and to fulfill the expectations of its shareholders and of the investment community in general, as well as the markets it serves.