Tsotsoros takes over at Hellenic Petroleum

Tsotsoros takes over at Hellenic Petroleum

Efstathios Tsotsoros, chairman of Hellenic Petroleum, has taken on the additional position of chief executive, the company said in a bourse filing on Tuesday.

Tsotsoros’s appointment was proposed by the Greek state last week and approved at a board meeting on Tuesday. Grigoris Stergioulis steps down after three years at the helm.

Greece is selling a stake in Hellenic Petroleum, its biggest oil refiner, under its latest bailout program. Its major shareholders, Greece and Paneuropean Oil and Industrial Holdings, have agreed to divest a combined stake of at least 50.1 percent in the refiner through an international tender. [Reuters]

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