Antonis (Tony) Antoniou, Chairman of the Board of Directors of Cyprus Airways, submitted his resignation to the President of the Republic of Cyprus.
Antoniou, was investigated by the Cyprus government, after complaints that he was charging personal expenses to the company, as well as for the violation of regulations on the company’s outsourcing.
Government spokesman Nikos Christodoulides stated that “the General Director of the Cypriot Ministry of Finance conducted the investigation and found that Antoniou had not charged any expenses on the company.”
On the issue of outsourcing, it was found that Antoniou had misinterpreted regulation provisions and failed to follow the appropriate procedures.
Christodoulides noted that the President has accepted the resignation of Antoniou, which was submitted before the Cabinet meeting. Furthermore, he said that during the next Cabinet meeting on Wednesday, a new Chairman of the company will be appointed.
The resignation of Mr. Antoniou comes amidst the process of selling Cyprus Airways to one of the 21 companies that have shown interest.
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