Hellenic Telecommunications Organization SA (OTE) CEO and Chairman of the Board Michael Tsamaz, its longest-serving director, will be leaving the company when his contract expires at the end of June 2024, the company announced on Thursday.

The OTE board, that met on Thursday, unanimously decided to recommend to the shareholders that Kostas Nebis be appointed to replace him effective July 1, 2024.

In its statement, the company said that "Michael Tsamaz is OTE’s longest-serving Chairman and CEO, having assumed this position in November 2010. Placing customer experience as a top priority, he led the successful transformation of OTE into a modern, high performing technology company, with strong financial foundations. During his tenure, OTE not only became the largest investor in new generation networks and technological infrastructure in Greece, contributing decisively to the digitalization of the country, society and businesses, but also a leader in all core telco segments: Fixed, Mobile, Pay TV, and ICT. In addition, it launched start-ups in non-core sectors such as FinTech, food delivery and insurance aggregation. The vision he set for the company for 2030, is to develop into a leading sustainable digital services provider, aiming at continuous improvement of shareholders value."

Kostas Nebis, it said, has been the CEO and president of the board of Hrvatski Telekom, Deutsche Telekom majority owned company in Croatia since April 2019. "From this position, he managed the turnaround of the company, focusing on employee and customer satisfaction while delivering strong business results accelerating growth while defending the leading position in the market with leading investments in gigabit infrastructure and digital solutions. He has extensive experience, of more than 20 years, in the telecommunications industry. Prior to Hrvatski Telekom, he held the position of chief commercial officer for residential customers in OTE Group and the position of marketing director in COSMOTE Greece."