Mr. Yannis Costopoulos’ resignation from the position of President of Alpha Bank, which is expected to be accepted today at the scheduled meeting of the Bank’s Board of Directors, represents a historic change. According to reports, Prof. Vassilis Rapanos, one of the most respected executives in the banking sector, will succeed him as Chairman of the Board. The composition of the remaining Board of Directors remains as is, with Mr. Dimitrios Mantzounis as CEO.

Yannis Kostopoulos’ resignation from the position of Chairman of Alpha Bank marks a new era in the most turbulent period for the country and for the banking system, which is being reorganized as a whole.

According to reports, changes are also expected in National Bank, with Mr. Petros Christodoulou, second in command in the management of NBG, who is expected to resign in order to work in the USA.

Mr. Papadopoulos, current head of the Public Debt Management Agency is being considered as his possible successor, while Mr. Alexandros Tourkolias, according to the same sources, is expected to become the next Chairman and CEO, should Mr Zanias also resign.

In regards to the appointment of the next Governor of the Bank of Greece, which has turned into a major political issue, a solution is expected to be given until June 6.