HCAP: New Board of Directors for the HPPC

The Board of Directors of HCAP, the sole shareholder of HPPC, reconstituted the latter’s Board of Directors by evaluating, selecting and appointing new members with long professional experience and expertise in real estate property management and development, in accordance with the procedure laid down in Article 197(4) of Law 4389/2016. In selecting the new members of the HPPCs Board of Directors, HCAP employed the open procedure for submission and selection of candidates, in collaboration with two internationally recognized companies in the field, assessing the candidates based on the criteria stipulated in the Call for Expressions of Interest.

In view of the above, the HCAP Board of Directors unanimously decided to appoint four new members, and the composition of the new HPPC Board of Directors, with the existing two members, is as follows:

1. Grigorios Anastasiadis, Chairman, Non-Executive Member of the Board
2. Stefanos Dionysios Vlastos, Chief Executive Officer, Executive Member of the Board
3. Panagiotis Balomenos, Executive Director, Executive Member of the Board
4. Anna Saipi, Chair of the Audit Committee, Non-Executive Member of the Board
5. Hara Vardakari, Non-executive Member of the Board
6. Michael Kandarakis, Non-executive Member of the Board

The goal of the new HPPC Board of Directors is to accelerate the implementation of major projects with the aim of speeding up consolidation, maturation and development of the real estate portfolio while increasing profitability and revenues. As a result, it will contribute to multiplying the value of Hellenic public properties by attracting investments and boosting economic activity both locally and nationally.

Acting as an enabler of change, HCAP applies standards to its subsidiaries that contribute to changing and modernising the way the listed and unlisted companies are governed. In this context, it fully harmonises its policies with the new corporate governance code of the Hellenic Corporate Governance Council (HCGC), shaping the new HPPC Board accordingly, with women gender representation at 33%.

The HCAP Board of Directors welcomes the new Chairman and members and wishes them every success in the framework of their obligations and in achieving the company’s strategic goals. We also express our thanks to Mr. Bezas for the services he provided during his term as Chairman of the Board of HPPC, and wish him every success in his future endeavours. The HCAP Board of Directors also expresses its warm thanks to the other members of the HPPC Board of Directors whose terms have ended. 

Below are short CVs on the new Members of the HPPC Board of Directors.

Grigoris Anastasiadis, Chairman, Non-Executive Director
Mr. Anastasiadis has over 45 years of experience in Business Auditing, Organization, and Administration. After five years in the business audit and organization departments of Arthur Andersen, he served as CFO at subsidiaries of international companies in Greece, including Ericsson, Friesland and Vodafone. From 2000 to 2006, he was called upon to assist with the securitization and reorganization of PPC S.A. as its CFO. He led the successful launch of Panafon S.A. (Vodafone) and PPC S.A. on the Athens and London Stock Exchanges. He has served as CEO of Panafon Services S.A. and On Telecoms S.A., as member of the board of directors of Tellas S.A., PPC Telecoms S.A., Wind PPC Holding N.V., Larco GMMC, Panafon Services S.A. and Unifon S.A., among other companies. He studied Economics and Business Administration at the Athens University of Economics and Business.

Panagiotis Balomenos, Executive Director, Executive Member of the Board
Panagiotis Balomenos holds a degree in Survey Engineering from the National Technical University of Athens. He has an MSc in Real Estate from the University of Reading, UK, and a PhD, earned on a scholarship from the EU, in the Economics of Real Estate and Real Estate Investment from the Department of Economic and Regional Development of Panteion University, where he has taught courses in real estate at the postgraduate level. He has also participated in a Harvard University business education programme on entrepreneurship.
He has extensive and diversified professional experience in real estate. He was co-founder and general partner for twelve years at a private technical project development company and, among other things, administrative advisor to the Hellenic Public Properties Company, technical advisor to Panellinia Bank, scientific associate of the Foundation for Economic & Industrial Research (IOBE) and the Regional Development Institute, and special advisor to the Minister of Finance on privatisations and public real estate, and has served on the Boards of the Church Real Estate Development Company and the Deposits and Loans Fund.

Anna Saipi, Chair of the Audit Committee, Non-Executive Member of the Board
Anna Saipi holds a BSc in Economics from the National and Kapodistrian University of Athens, as well as the professional certifications of A’ Class Accountant-Tax Advisor from the Economic Chamber of Athens and Risk Management Assurance (CRMA) from the International Institute of Internal Auditors. She is an experienced internal auditor with a history of 32 years in the field of Audit and Assurance of Greek and multinational organizations. She has experience in the areas of identifying, assessing and managing Operational Risks, organizing methods for monitoring business goals, recommending and applying safeguards, and has managed various projects for reorganization and improvement of corporate procedures on an international level. During her career, she has gained experience in interacting with International Capital Market Commissions, Boards of Directors, European Central Banks and International Financial Institutions, as well as with Internal Audit Committees in Greece and abroad. She started her career as an Internal Auditor in 1989, at the Latsis Group. In 2000 she was promoted to Internal Audit Director, with responsibility for the Filippou Investments Group. In 2004 she joined the multinational First Data Corporation as Internal Audit Director for the EMEA region and gradually expanding her purview to other countries. Since 2018 she has served as Vice President International Regions of Fiserv (formerly First Data) for the regions of Europe, Asia and Latin America. 

Michael Kandarakis, Non-executive Member of the Board
Michael Kandarakis has over 23 years of experience in real estate private equity, having worked in Europe, Asia and the U.S., covering all relevant sectors, including commercial properties, industry, non-performing loans, hospitality, healthcare, and retail. He is a partner in Quilvest Capital Partners, which manages $6 billion in AuM, and he was a founding partner of Soros Real Estate (later Grove International Partners), an investment company with $5 billion in AuM in Asia, Europe and the U.S. He also served as Operating Partner and Member of the Management Advisory Board of Towerbrook Capital Partners in London and as a member of the Morgan Stanley team that implemented the company’s European real estate investment programme. He sits on the boards of various investment companies and has served as a member of the Investment Committee for the funds he managed. He received a BS in Management from the London School of Economics and speaks English, French and Greek.