Board of Directors member replacement

 

KRI-KRI MILK INDUSTRY SA (thereafter the “Company”) according to the EU Regulation 596/2014 for market abuse (MAR), the 3/347/12.7.2005 Decision of HCMC and the ATHEX Rulebook, announces the following:

 

A. Replacement of Board of Directors member and announcement of the vice-president as non-executive

On 13.1.2021, Mr Theodoros Xentes, an independent non-executive member of the Board of Directors, during the meeting of the Board of Directors as of 13.1.2021, resigned, for personal reasons, as an independent non-executive member of the Board of Directors and also as a member of the Audit Committee and the Remuneration and Benefits Committee. The Board of Directors then elected Mr Anastasios Moudios, as an independent non-executive member, replacing the resigned Mr Theodoros Xentes, up until the next General Meeting. This replacement is according to art. 82 par. 1 of Law 4548/18, art. 3 par. 1 of Law 3016/02 and art. 23 par. 2 of company's statute. Mr Moudios meets the criteria of independence of art. 4 of Law 3016/02 and of art. 9 par 1 of Law 4706/20. The election of the new member of the Board of Directors will be announced on the forthcoming General Meeting of shareholders, which will decide according to art. 3 par. 1 of Law 3016/02, either re-electing him or appointing a new independent member.

Also, the Board of Directors, on its meeting as of 13.1.2021, decided to set Mr Georgios Kotsampasis as non-executive member of the Board of Directors and relieved him of his executive duties.

Therefore, the composition of Board of Directors is now as follows:

1) Panagiotis Tsinavos, President & Managing Director, executive member,

2) Georgios Kotsampasis, Vice President, non-executive member,

3) Anastasios Moudios, independent non-executive member,

4) Anastasios Kyriakidis, independent non-executive member,

5) Antonios Mavridoglou, independent non-executive member,

 

 

 

B. Replacement of Audit Committee member

Afterwards, the Board of Directors, on its meeting as of 13.1.2021, elected Mr Anastasios Moudios as member of the Audit Committee, replacing the resigned Mr Theodoros Xentes, in accordance with the provisions of Article 44 of Law 4449/2017. It was confirmed by the Board of Directors that Mr Anastasios Moudios meets all the conditions of art. 44, par. 1 of Law 4449/2017.

Afterwards, the Audit Committee, on its meeting as of 14.1.2021, elected Mr Anastasios Moudios as its President. It was confirmed that he meets all necessary conditions.

Therefore, the composition of the Audit Committee is now as follows:

1) Anastasios Moudios, President

2) Anastasios Kyriakidis, member

3) Antonios Mavridoglou, member

 

C. Replacement of Remuneration and Benefits Committee member. Conversion to Remuneration and Nominations Committee.

The Board of Directors, on its meeting as of 13.1.2021, elected Mr Anastasios Moudios as member of the Remuneration and Benefits Committee, replacing the resigned Mr Theodoros Xentes.

In addition, in the context of the discussion of this agenda item, Mr Anastasios Kyriakidis, an independent non-executive member of the Board of Directors, resigned, for personal reasons, as a member of the Remuneration and Benefits Committee. Following this resignation, the Board of Directors elected Mr Georgios Kotsampasis, non-executive member of the Board of Directors, as a member of the Remuneration and Benefits Committee, replacing the resigned Mr Anastasios Kyriakidis.

Furthermore, the Board of Directors decided to convert the Remuneration and Benefits Committee to Remuneration and Nominations Committee. It will be a three-members committee, consisting of non-executive members of the Board of Directors, two of which will be independent. Its President was decided to be elected by Committee's members.

Afterwards, the Remuneration and Nominations Committee, on its meeting as of 14.1.2021, elected Mr Anastasios Moudios as its President. It was confirmed that he meets all necessary conditions.

Therefore, the composition of the Remuneration and Nominations Committee is now as follows:

1) Anastasios Moudios, President

2) Georgios Kotsampasis, member

3) Antonios Mavridoglou, member