PPC announces that the Board of Directors discussed and approved today the Company’s restructuring, which is the broadest since its transformation in a Societe Anonyme in 2001. The goals of the restructuring are the following:
1. Create conditions for the upgrade of corporate governance.
2. Create conditions for the implementation of a Business Plan aiming at the development of Renewable Energy Sources (RES) including the amendment in the islands supply via RES optimal utilization.
3. Development of PPC’s revenue potential aiming to substantially upgrade the customer service and create conditions for the promotion of new products, such as Natural Gas and energy services.
4. Support PPC’s expansion to new international markets and the effective supervision of its subsidiaries and business collaborations.
5. Upgrade research and development as well as the Company’s participation in research programs.
6. Upgrade its monitoring and development of regulatory issues as well as the relations with the European Union.
PPC’s restructuring will be completed through the internal restructuring of its Divisions and Business Units, which is expected to be completed in February.
Athens, January 17, 2019.