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Vgenopoulos Resigns from Marfin Popular Bank

The chairman of Marfin Popular Bank (MPB) resigned yesterday, citing a potential conflict of interest as a major shareholder during attempts to boost its capital levels in which nationalisation could not be ruled out.
Andreas Vgenopoulos said he had given notice of his resignation from his position as non-executive chairman as well as a member of the board.
“I believe that during these challenging times, the chairmanship of MPB should not be held by somebody who is also representing a large shareholder of the bank, and whose presence could possibly create conditions in which conflicts of interests could arise,” Vgenopoulos said.
The Board of Directors elected as its new Non Executive Chairman Mr. Constantinos Mylonas.
In a statement, the Bank said that the Board of Directors also elected Mr. Peter Balthussen as new Non Executive Member of the Board of Directors in replacement of resigned member Mr. Abdulrazaq Al Jassim. It is noted that the resigned member as well as the new member elected in replacement thereof, were nominated by Dubai Group.

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