Regarding press reports on the remuneration of the new Deputy CEO of PPC S.A., Mr. Costas Theos, PPC clarifies that:
• The remuneration mentioned in the press reports for Mr. Costas Theos is inaccurate, as his net salary is equal to the respective net salary of other senior executives of the Company, not exceeding € 5,000 per month, 50% lower than the net salary that was in effect in the previous years until 2009.
• The remuneration of senior executives of PPC is significantly lower compared to the respective one of top executives of large Greek listed companies, which have a quite lower number of employees and significantly lower turnover compared to PPC.
• The reduction of salaries of PPC’s senior and high level executives up to 50% in the last years, has a negative impact on the operation of the Company, since specialized executives are attracted by competitors for quite higher salaries, while at the same time, there is no similar interest in attracting executives from the market by PPC.
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