Term renewal expected for PPC boss, whose tenure is expiring

The term of main power utility PPC’s chief executive Manolis Panagiotakis is set to expire on April 9 but the new super privatization fund, the power utiility’s main shareholder, will propose an extension of this tenure, energypress sources have informed.

The privatization fund will deliver its proposal at an imminent PPC general shareholders’ meeting, where it is expected to be endorsed.

The PPC general shareholders’ meeting was originally scheduled to take place on April 3 but will most likely be reset for after the Easter break as a result of issues at the privatization fund’s board. Two new members will be added.

It remains doubtful whether the split of PPC’s lignite units from the corporation as part of the process leading to their bailout-required disinvestment, will be included on the agenda at the forthcoming general shareholders’ meeting. Ratification of a related energy ministry draft bill, which has yet to be submitted to parliament, is a prerequisite.

Though the energy minister Giorgos Stathakis has ascertained the draft bill will soon be delivered to parliament, the date of this action remains unknown. Negotiations between the energy ministry and the European Commission on the disinvestent plan are still in progress.