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PPC (DEH) CEO Zervos resigns after charges on wages hikes to 19 executives

Chairman and CEO of Greece’s Public Power Company (DEH) Arhtouros Ζervos submitted his resignation on Wednesday evening after a judicial council decided that he should stand trial on breach-of-duty charges related to approving unlawful wages/benefits for some 19 company executives in the 2010-12 period.

“The damage for the company was more than 150,000 euro and therefore a felony”, Greek media note, stressing that Zervos had allegedly given salary hikes exceeding the cap determined by the law.

PPC is a 51%-state-controlled enterprise and ts wage-grid is tightly regulated through fiscal policy.

Zervos denies the charges saying he followed the rules and his resignation came “for reasons of touchiness” media wrote. He first resigned per phone with the minister in charge, his written resignation was expected on Thursday. The Greek government allegedly distanced from him and made no attempt to persuade him to remain at his post.

Zervos resignation comes just a couple of days after PPC management and workers’ unions came under heavy criticism for having signed a 3-year collective bargain granting to workers salary increases and a series of benefits. The collective bargain talks had started in September 2014, the deal was signed in February.

Top managers in Greek state-run enterprises are normally appointed by the governments. Arthouros Zervos has been appointed to PPC in 2010 by PM George Papandreou.

The judicial case for the alleged payroll hikes to 19 PPC executives had been pending since end of 2012.


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One comment

  1. did he pay his income taxes?
    some body goes after his ass?
    is he one of the guys has big Money and never pay tax?
    get moving , he will leave the Country, very fast.