EMEA News
Port of Piraeus CEO Resigns
Yiorgos Anomeritis, CEO of Greece's Port of Piraeus, has resigned, Reuters reports.
Anomeritis has helmed the Port of Piraeus Authority since 2009, though reportedly announced in February that he would step down following the company's annual shareholder meeting later this week.
The statement released Wednesday also comes ahead of plans to privatize the port, a move which Anomeritis had reportedly previously objected to.
The government originally halted privatization plans when it came into power early this year, but re-started efforts last month after negotiations with the European Union and the International Monetary Fund stalled.
Selling a majority stake in the port had been part of the stipulations of the country's €240 billion ($271 billion) bailout package.
The plans reportedly aim to sell 51 percent of the Port of Piraeus Authority to a buyer, with the stake allowed to grow to 67.6 percent in five years provided that the buyer invests €300 million ($337.2 million) in the port.
It was reported earlier this year that COSCO Group was the likely forerunner for the majority stake, especially as the company already operates two of the port's cargo piers.
