Announcement

 

Changes in the composition of Board Committees

 

 

Nicosia, 13 December 2016

 

 

The Board of Directors of Bank of Cyprus Public Company Ltd announces that, at its meeting held today, it has approved the replacement of Mr Maksim Goldman in the Audit Committee with Dr Michael Heger who is currently a member of the Risk Committee. At the same time Mr M. Goldman will be taking the position of Dr M. Heger in the Risk Committee. This change is effected in order to comply with the  UK Governance Code, under which there is an obligation for all members of the Audit Committee to be independent. These changes will be effective as of 1 of January 2017.

 

As of 1 of January 2017, the composition of the Board Committees will be as follows:

 

Nominations & Corporate Governance Committee (NCGC)

Josef Ackermann (Chairman)

Wilbur Ross

Maksim Goldman

 

Risk Committee (RC)

Arne Berggren (Chairman)

Maksim Goldman

Marios Kalochoritis

Wilbur Ross

Yiannis Zographakis

 

Audit Committee (AC)

Yiannis Zographakis (Chairman)

Arne Berggren

Michael Heger

 

Human Resources & Remuneration Committee (HRRC)

Michael Spanos (Chairman)

Marios Kalochoritis

Michael Heger

CHANGES IN THE COMPOSITION OF BOARD COMMITTEES