{"id":5662,"date":"2016-12-08T13:19:46","date_gmt":"2016-12-08T13:19:46","guid":{"rendered":"https:\/\/hfsf.odh.gr\/?p=5662"},"modified":"2021-01-07T12:17:45","modified_gmt":"2021-01-07T12:17:45","slug":"joint-announcement","status":"publish","type":"post","link":"https:\/\/hfsf.odh.gr\/en\/joint-announcement\/","title":{"rendered":"JOINT ANNOUNCEMENT"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5662\" class=\"elementor elementor-5662\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-417aac62 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"417aac62\" data-element_type=\"section\">\n\t\t\t\n            \t\t\t<div class=\"elementor-container elementor-column-gap-default \">\n\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-398792fc\" data-id=\"398792fc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap  elementor-element-populated\">\n\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4f545e8d elementor-widget elementor-widget-text-editor\" data-id=\"4f545e8d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><p><\/p>\n<p>The Hellenic Financial Stability Fund (the \u201cHFSF\u201d) and the National Bank of Greece S.A. (the \u2018Bank\u2019) have reached a mutually acceptable agreement which reaffirms their commitment to a constructive cooperation and will contribute to the stability and the progress of the Greek banking system.<\/p>\n<p>The agreement is in accordance with the existing Relationship Framework Agreement, the corporate governance rules and the European legal and regulatory framework.<\/p>\n<p>The key points that both parties have concluded to are:<\/p>\n<ul>\n<li>The HFSF will nominate one new member on the Board of Directors of the Bank to be<br \/>elected, at the latest, until the next Annual General Meeting of shareholders of the<br \/>Bank. The relevant proposal will be submitted through the Corporate Governance and<br \/>Nominations Committee of the Bank in accordance with the BoD members Nomination<br \/>Policy and the Articles of Association of the Bank.<\/li>\n<li>The Board of Directors reconstitution process will be completed before the end of<br \/>January 2017 for all members who do not fulfill the eligibility criteria of Law 3864\/2010<br \/>(the \u201cHFSF Law\u201d) as in force. The Bank, as previously stated, supports maintaining<br \/>employee representation at the BoD in accordance with the above provisions of the<br \/>legal and regulatory framework. It is noted that the BoD reconstitution process is almost<br \/>complete, with the addition of three independent Non-Executive Members (experts),<br \/>possessing significant international banking experience and knowledge of the European<br \/>Banking Regulatory Framework.<\/li>\n<li>The Bank commits, by the next Annual General Meeting, to implement in accordance<br \/>with international best practices a permanent succession program for important<br \/>positions on the Board of Directors, including the position of Board Chair. In addition,<br \/>the latest until the next Annual General Meeting, the Management of the Bank will have<br \/>completed a process of identifying senior executives in order to contribute, at Board of<br \/>Directors\u2019 level, to the work of the top management, in accordance with internal<br \/>governance rules.<\/li>\n<li>The Bank will define and implement in Q1 2017 a new Policy for the annual performance<br \/>appraisal of Senior Management, with specific KPIs, in accordance with international<br \/>best practices applied in the financial sector.<\/li>\n<\/ul>\n<p>The Chairman and the Chief Executive Officer of the Bank will continue their close<br \/>cooperation with the General Council of the HFSF with the aim to successfully implement<br \/>the Restructuring Plan of the Bank.<\/p>\n<p><br \/>The HFSF\u2019s commitment, according to the HFSF Law, to drive the change in the area of<br \/>corporate governance, will further strengthen the Greek systemic banks position to address<br \/>strategic challenges and effectively serve the interest of their customers thus supporting the<br \/>wider recovery of the Greek economy.<br \/><br \/><\/p>\n<p>\u00a0<\/p>\n<p><a href=\"https:\/\/hfsf.odh.gr\/wp-content\/uploads\/2020\/10\/announcement_20161208_en.pdf\" target=\"_blank\" rel=\"noopener\"><strong>Announcement<\/strong><\/a><\/p>\n<p><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The Hellenic Financial Stability Fund (the \u201cHFSF\u201d) and the National Bank of Greece S.A. (the \u2018Bank\u2019) have reached a mutually acceptable agreement which reaffirms their commitment to a constructive cooperation and will contribute to the stability and the progress of the Greek banking system. The agreement is in accordance with the existing Relationship Framework Agreement, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[20],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JOINT ANNOUNCEMENT - Hellenic Financial Stability Fund<\/title>\n<meta name=\"description\" content=\"The Hellenic Financial Stability Fund (the \u201cHFSF\u201d) and the National Bank of Greece S.A.(the \u2018Bank\u2019) have reached a mutually acceptable agreement which reaffirms their commitment\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JOINT ANNOUNCEMENT - Hellenic Financial Stability Fund\" \/>\n<meta property=\"og:description\" content=\"The Hellenic Financial Stability Fund (the \u201cHFSF\u201d) and the National Bank of Greece S.A.(the \u2018Bank\u2019) have reached a mutually acceptable agreement which reaffirms their commitment\" \/>\n<meta property=\"og:url\" content=\"https:\/\/hfsf.odh.gr\/en\/joint-announcement\/\" \/>\n<meta property=\"og:site_name\" content=\"Hellenic Financial Stability Fund\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-08T13:19:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-07T12:17:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/hfsf.odh.gr\/wp-content\/uploads\/2020\/09\/hfsf-icon.png\" \/>\n\t<meta property=\"og:image:width\" content=\"710\" \/>\n\t<meta property=\"og:image:height\" content=\"828\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"2 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/hfsf.odh.gr\/#website\",\"url\":\"https:\/\/hfsf.odh.gr\/\",\"name\":\"Hellenic Financial Stability Fund\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/hfsf.odh.gr\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/hfsf.odh.gr\/en\/joint-announcement\/#webpage\",\"url\":\"https:\/\/hfsf.odh.gr\/en\/joint-announcement\/\",\"name\":\"JOINT ANNOUNCEMENT - Hellenic Financial Stability Fund\",\"isPartOf\":{\"@id\":\"https:\/\/hfsf.odh.gr\/#website\"},\"datePublished\":\"2016-12-08T13:19:46+00:00\",\"dateModified\":\"2021-01-07T12:17:45+00:00\",\"author\":{\"@id\":\"https:\/\/hfsf.odh.gr\/#\/schema\/person\/6ab52d0e7e520e35657eef987a95074c\"},\"description\":\"The Hellenic Financial Stability Fund (the \\u201cHFSF\\u201d) and the National Bank of Greece S.A.(the \\u2018Bank\\u2019) have reached a mutually acceptable agreement which reaffirms their commitment\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/hfsf.odh.gr\/en\/joint-announcement\/\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/hfsf.odh.gr\/#\/schema\/person\/6ab52d0e7e520e35657eef987a95074c\",\"name\":\"spetroula\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/posts\/5662"}],"collection":[{"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/comments?post=5662"}],"version-history":[{"count":7,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/posts\/5662\/revisions"}],"predecessor-version":[{"id":12025,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/posts\/5662\/revisions\/12025"}],"wp:attachment":[{"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/media?parent=5662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/categories?post=5662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hfsf.odh.gr\/en\/wp-json\/wp\/v2\/tags?post=5662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}