Vardis Vardinogiannis, the businessman, passed away today at the age of 91.
His family released the following announcement:
“With deep sorrow, the Vardis I. Vardinogiannis family announces that our beloved father and grandfather, Vardis I. Vardinogiannis, passed away today, Tuesday, November 12, 2024.”
Starting in Crete and Exile
Vardis Vardinogiannis was born on December 4, 1933, in Episkopi, Rethymno. He was the fifth of eight children of Ioannis Vardinogiannis and Chryssi Theodoroulaki.
In 1955, he graduated from the Naval Academy and pursued a career as an officer in the Hellenic Navy, just like his brother Nikos.
When, in April 1967, the junta of colonels overthrew the democracy, the honorable democratic officer Vardis Vardinogiannis, who had Venizelist roots, stood up against the regime. He resisted their illegal and oppressive rule, which led to his imprisonment and subsequent exile to Amorgos by the dictators.
Later, Vardis Vardinogiannis became involved in the anti-junta movement within the Navy, helping to ensure the resupply of ships in case of a movement.
The Rise of Motor Oil
Simple in his behavior, with sincere honesty and a rare straightforwardness—his word was a “contract”—he guided the evolution of Motor Oil for half a century, transforming it from a small refinery in the early 1970s into today’s colossal company, which continues to operate with the values of a family business. He succeeded in building one of the largest Greek business groups, covering a wide range of sectors, from oil, shipping, and banking to mass media and corporate investments both in Greece and abroad.
It is no surprise that international lists, like Forbes, included him among the wealthiest Greeks and most influential people in Europe and beyond.
Vardis Vardinogiannis took the helm after the sudden and premature death of his older brother Nikos in July 1973. From then on, he held firm control, but with the wisdom that characterized him, he gradually gave space to the next generation of the family. He methodically prepared the ground so that, when he would pass, there would be worthy successors behind him.
In this 50-year journey, there were many milestones. From major efforts to develop and expand the refinery into new sectors, to the continuous modernization of its infrastructure and landmark deals. A pivotal year was 1996 when, through a strategic agreement with the Saudi giant Saudi Aramco, he took a giant leap in turning Motor Oil into a cutting-edge energy facility with high standards.
Under his strong leadership, Motor Oil played a crucial role for half a century as a pillar of the national economy, through exports to over 75 countries, more than 3,000 well-paid permanent jobs, and continuous investments.
Today, the Motor Oil Group consists of 92 subsidiary companies, with over 1,500 gas stations operating in Greece and abroad under the brands of its subsidiaries (Shell, Avin, etc.). It also has branches in 8 different countries.
Its refinery, one of the most modern in Europe, with a Nelson Complexity Index of 12.61, can process various types of crude oil and produces a wide range of petroleum products, serving oil marketing companies and other entities.
However, he never rested on his laurels. He continued to work tirelessly with his eyes set on the future of the Group and Greece.
In the last few years, besides his decision to further strengthen the refinery with new investments—totaling over 1.7 billion euros—he made significant moves into renewable energy and electricity and natural gas trading.
The arm of Motor Oil Renewable Energy (MORE) grew rapidly through successive acquisitions, making it one of the strongest domestic green energy groups, with installed capacity in renewable energy sources (wind, solar, and hydroelectric projects) exceeding 800 MW, and a portfolio of renewable energy projects and energy storage systems in various stages of development exceeding 3 GW.
His Enormous Social Contribution
Beyond his love for his homeland and his powerful business standing, Vardis Vardinogiannis was known for his immense social contributions.
First and foremost, he fully supported the life vision of Marianna Vardinogiannis for the creation of the first Pediatric Oncology Unit in the country through “Elpida,” as well as the various charitable actions of the “Marianna B. Vardinogiannis Foundation” and the countless initiatives with direct social impact.
At the same time, with donations and sponsorships amounting to tens of millions every year through Motor Oil, he supported the arts, culture, sports, education, the environment, and assistance to local communities.
Even with his employees at the Group or his fellow villagers in Crete, he was “their Vardis,” the person they would turn to in times of need and find his silent, genuine support, without anything ever coming to the public’s attention.
The Meeting and Marriage with Marianna Vardinogianni
He met his wife, Marianna Vardinogianni, when she was still a student, at a relative’s house in Piraeus.
It was love at first sight for both of them. With the second glance, the spontaneous, romantic pulse of his heart had already consciously settled in his mind. He knew, without a doubt, that she was the woman of his life.
As soon as Marianna finished high school, she left for America to study Economics at the University of Denver in Colorado.
At the same time, Vardis Vardinogiannis, as a Naval Ensign, was sent by the Navy to Hawaii and California to take part in the mission of receiving some of the repaired old U.S. warships, which were being transferred to Greece as part of U.S. military aid.
The two of them exchanged letters non-stop from afar, but with the shared feeling that they were close, even though they were sometimes separated by up to 5,500 kilometers.
They were made for each other, and each followed in the footsteps of the other. As it is said, when Vardis crossed the Atlantic and returned with the received warship to the naval base in Salamis, she almost simultaneously flew back to Greece.
The same “go and come” repeated when the naval officer was temporarily transferred for further training to the Portsmouth naval base in England. Marianna went with him. There, she tried to study Art History, a subject she had loved since childhood.
They married in May 1961, with their wedding godfather being Christos Lambrakis, a contemporary and friend of Vardis from their military service together. The couple began their new life in Marianna’s dowry apartment on Pipinou Street, near Patission, in Kypseli.
This apartment would prove to be lucky. It was there that they had their first three children before moving to the nearby Fokionos Negri.
The first home, which housed their initial family dreams, was mortgaged to secure the loan Vardis Vardinogiannis took out to start his first business venture with his older brother, Nikos: a fuel station for maritime refueling in the Kaloi Limenes area, on the southern coast of Heraklion.
The Assassination Attempt by “17 November”
At 9:20 AM on November 20, 1990, 57-year-old Vardis Vardinogiannis became the target of a terrorist attack in Dilvoi Square, Nea Erythraia.
The terrorist organization “17N” had set up an ambush and launched three rockets, but the businessman survived due to the strong armor of his vehicle, as well as the failed detonation of a bomb planted in a parked car.
In his confession in 2002, the arrested Christodoulos Xiros admitted his involvement in the attempted murder of Vardinogiannis, as well as three other members of the terrorist organization.
