PR: The new Board of Directors of the HRADF
Today, the new five-member Board of Directors of the Hellenic Republic Asset Development Fund (‘’HRADF’’) was constituted into body. It was appointed by virtue of a resolution of its sole shareholder, the Hellenic Corporation of Assets and Participations (‘’HCAP’’). HRADF was established on July 1st, 2011 with a 6-year duration which was extended by another 3 years, until July 1st 2020, pursuant to a relevant resolution of HCAP Board.
To strengthen HRADF and to select the new board members, HCAP launched an open process for the submission of candidacies and the selection of members, in collaboration with an experienced consulting firm with international reputation, performed interviews and assessed candidates on the basis of criteria already set in the corresponding Call for Expression of Interest.The aim was to form a Board which will collectively have enhanced and differentiated expertise to successfully implement the projects included in the HRADF Asset Development Plan.
In a meeting with HRADF’s new board, the CEO of the Hellenic Corporation of Assets and Participations, Ms. Rania Ekaterinari, said: “HRADF’s mission remains to maximize the value of future transactions and to attract strategic investments in Greece. The privatization program is in progress, and although there have been delays, in 2017, successful completion of important transactions, such as the ones regarding the 14 regional airports and TRAINOSE, took place, while some other transactions progressed to an advanced stage. I believe that the new board has the technocratic profile and commitment to proceed with all necessary actions for the successful completion of the ongoing transactions, as well as the kick off of new ones.”
Ms. Ekaterinari added that: “Adequate preparation, commitment to time plan and clear processes are matters of principle for us and the investors; the above will help us increase competition during the tender processes and attract strong investment appetite in order to support Greece’s recovery and economic growth.” Moreover, HCAP’s CEO pointed out that: “With the guidance of the Hellenic Corporation of Assets and Participations, HRADF is called to adopt the values and the governance principles that are depicted in the Rules of Procedure of its parent company, as the mission of the Fund must always be underpinned by best practices for asset exploitation, by transparent processes and effective management, concerning both the preparation and the implementation of the privatization program. HRADF is also expected to take every necessary action to strengthen its organizational structure and its operations, including the Department for the Monitoring of Contracts which will support and assist the Greek State to monitor the implementation of every project.”
The Chairman of HRADF, Mr. Aris Xenofos, said: “The management of the assets of the Greek State is a pillar of growth for the national economy, adding value through important direct and indirect investments which yield returns on multiple levels, such as by creating new jobs, improving infrastructures and boosting the gross domestic product.”
