We have already reported a few days ago about the replacement of Demetra Kalogerou as Chairwoman of CySEC. Since today it is also officially on the CySEC website – George Theocharides is the new Chairman of CySEC. The transition from Kalogerou to Theocharideshad been planned for some time. He has already served as the regulator’s Vice Chairman since July 2020. Previously, he served as a member of the Interim Board of Bank of Cyprus and as Chairman of the Cyprus Blockchain Technologies Ltd. It seems that Theocharides has broad experience in finance. George Karatzias was appointed as vice-chairman.
The regulator wanted to see off Demetra Kalogerou with an expensive party, CyprusMail reported. The farewell party was to cost the Cypriot taxpayer €10,000. However, the Auditor General’s office raised the red flag over a farewell do for a public official that would have cost the taxpayer €10,000. The Auditor-General Odysseas Michaelides sent a letter on Wednesday to CySEC criticizing the event.
On LinkedIn, Demetra Kalogerou has changed the status from “Chairwoman” to “Ex-Chair.” New professional plans are not yet known. However, we wouldn’t be surprised if we saw Demetra again soon in a different role.