Greece appoints new CEO to lead privatisation programme
Greece has appointed Riccardo Lambiris as the new chief executive of its privatization agency, which is trying to sell assets to comply with the terms of the country’s bailouts as part of conditions agreed for its bailout programme.
The Hellenic Corporation of Assets and Participations (TAIPED) announced in a statement that Mr Lambiris will take up the role in mid-October following the resignation of current chief executive Antonios Leousis. Mr Lambiris has significant experience in the banking and investment sectors having worked at Rockwell Gold and HSBC in Greece and Cyprus.
Privatisation has been an essential requirement by Greece’s creditors since the first bailout in 2010. However, due to the country’s notorious bureaucracy along with politicians putting their deluded ideologies in the way of progress, only €4.4bn has been raised so far.