The number of the Board members is defined by the General Meeting, according to the provisions of the Company’s Articles of Association. The current Board of Directors consists of 11 (eleven) members, 5 (five) of the Board members are non-executive, while 4 (four) of the non-executive members are also independent members and one of them is the Vice President of the BoD.
The Board of Directors has the powers, responsibilities, and duties that are provisioned by Law, the General Shareholders’ Meeting, and the Company’s Articles of Association. Within the aforementioned framework, the Board of Directors is the agency that exercises the management of company.
These reports shall be communicated to the supervisory authorities, to the investors and to any interested party as provided by the relevant legislative and regulatory framework.
Moreover, in accordance with article 4 of the law 4706/2020, the BoD has the following responsibilities:
(a) the consistent implementation of the operational strategy, making effective use of available resources;
(b) the identification and management of substantial risks associated with its business and operation;
(c) the efficient operation of the Internal Audit Unit,
(d) to ensure the completeness and reliability of the data and information required for the accurate and timely determination of the financial situation of the Company and the preparation of reliable financial statements, as well as its non-financial situation, in accordance with article 151 of law 4548 / 2018.
(e) compliance with the regulatory and legislative framework, as well as the internal regulations governing the operation of the Company.
In the context of the above authorities and responsibilities, the Board of Directors acts collectively and the relevant decisions are made by all the Board members, regardless of their capacity as executive, non-executive or independent.
According to the Company’s Articles of Association, the Board of Directors may assign, by means of a relevant decision, rights and authorities that relate to the administration, management and representation of the company to one or more individuals, regardless of whether such individuals are Board members or not.
The manner in which the company is bound and represented is defined by the Board of Directors.