Bank of Cyprus CEO, John Hourican is remaining in his position until his replacement is found, a process expected to be completed by January 2016.
According to InBusinessNews the CEO has an agenda to complete before he leaves. Some of the issues he needs to take care of include the restructuring of non-performing loans and possibly the sale of Uniastrum.
Even though Hourican submitted his resignation last April he is expected to stay a bit longer to also facilitate the transition for the new CEO to be found.
The bank has nominated a three-member committee to deal with the replacement procedure and the new CEO is expected to arrive at the Group before the end of the year.
Source: InCyprus
