Bank of Cyprus Board proposes Takis Arapoglou for new Chairman

Bank of Cyprus Holdings PLC said Tuesday it appointed Efstratios-Georgios (Takis) Arapoglou to its board of directors.

Arapoglou is being considered by the board as possible new Chairman of the company, as Chair Josef Ackermann will depart in May after the firm's annual general meeting.

Arapoglou will take up his duties after his board membership is approved by the ECB.

Arapoglou has served as Chairman and CEO of the National Bank of Greece Group, Chairman of the Hellenic Banks Association, Member of the Board of Eurobank, and has held senior management positions with Citibank and Chase Manhattan in the UK and with American Express in Greece. Currently, Arapoglou is Chairman of the Board of Titan Cement, an international cement company listed on the Athens Exchange and of Tsakos Energy Navigation, a shipping company listed on the New York Stock Exchange.

Arapoglou holds an MSc in Finance and Management from the University of Brunel, a BSc in Naval Architecture and Ocean Engineering from the University of Glasgow and a BA in Mathematics and Physics from the University of Athens.