Board line-up change plans at PPC spark reaction

The chief executive at main power utility PPC, Manolis Panagiotakis, is planning a series of administrative line-up changes, according to energypress sources.

The prospect of extending the tenure of the utility’s top post from three to five-year terms is another issue added to the agenda of a PPC board meeting today.

The introduction of a possible restriction in the number of terms that may be served by PPC board members will also be examined. A limit of three terms is being contemplated.

The PPC board is also expected to discuss eliminating an administrative seat held by the Economic and Social Council of Greece (OKE). OKE is currently represented by council member Giorgos Bitzas at utility board meetings. PPC’s intention to remove the OKE seat from its board has already prompted reactions. Its member represents SEV (Hellenic Association of Industrialists), the GSEE and ADEDY union groups, and ESSE (Confederation of Commerce and Entrepreneurship).

Commenting on the prospect, Bitzas told energypress that he failed to see why “the country’s biggest corporation does not want to be represented by an institutionalized agency such as OKE.” Bitzas added that the OKE head official, Giorgos Vernicos, has been informed of PPC’s intention.

The ongoing split-and-sale process of PPC subsidiary IPTO, the power grid operator, is also on the agenda of today’s board meeting.