DESFA head ‘hiked lump sum payout’

DESFA head ‘hiked lump sum payout’

It appears that the head of gas grid operator DESFA, Sotiris Nikas, granted himself a promotion that boosted his retirement lump sum by 100,000 euros to 258,000 euros, according to a question tabled in Parliament by New Democracy deputy Constantinos Skrekas, who is a former development minister.

Up until November 11, Nikas had been employed as a director. “Then, taking advantage of the power his position entailed, he promoted himself two levels to director general and into the top salary echelon,” Skrekas wrote in his question.

Nikas retired after just a few days in that position, but it was enough time to see his lump sum soar by 100,000 to 258,000 euros, the ND deputy added.

The situation is complicated further by the fact that, according to Skrekas, a few days before his upgrade Nikas received the authorization to approve the transfer of 10 million euros from the corporation’s reserves to the account of an insurance company, protecting his lump sum and possibly that of other DESFA officials from a possible bank bail-in.

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