Bank of Cyprus CEO resigns over bailout deal

Posted by in Economy

The president of the board of Bank of Cyprus Andreas Artemis submitted his resignation to Finance Minister Michalis Sarris  short before 12 o’ clock noon on Tuesday. According to local media, Artemis disagreed with the handling of the bank recapitalisation and said that the selling of BOP branches was decided without consultation with the board of the bank.

According to SigmaLive, the Central Bank of Cyprus cancelled with a letter the powers of the board of BOC and the shareholders on  Monday.

Andreas Artemis was appointed to this post end of August 2012 after the resignation of the previous CEO.