Corporate law

Yannis Vardinoyannis has been appointed Chairman of Motor Oil, following the death of Vardis Vardinoyannis, according to a decision of the company's board of directors. 

The term of office of the new board of directors is valid until the next General Meeting of Shareholders is convened and until the relevant decision for the election of a new board of directors is taken.

The institution of protected witnesses works everywhere in the democratic world as a tool to clear up cases of corruption and organized crime. In Greece, it was used by the previous government as a weapon of slander against its opponents, leading to its degeneration. 

Nothing can really be regarded as "news" when it comes to corruption. Corruption is so ubiquitous, that nothing comes as a surprise anymore, nothing shocks us. From scrap metal thieves to sundry suspect circles lining their pockets with European Union funding, the list has now grown with the addition of a racket operating inside the Catholic Church of Greece.

No part of the public sector can be impervious to corruption. What is always required, however, is to have strict rules and channels through which citizens can report any abuse of power or illegalities committed by its employees.

It seems that progress has been made in this field, as the crime rings that abuse their power are exposed and brought to justice.

A man over the age of 61 with at least a master's degree and most likely related to the company's main shareholder is the average member of the board of directors of companies listed on the Athens Stock Exchange, according to the fourth annual survey by RSM Greece.

A staggering nine out of 10 Greeks believe there is extensive corruption in the country's National Health System (ESY), according to the special Eurobarometer that surveyed citizens from February 7 to March 3 regarding corruption in the European Union.

A total of 1,002 Greek citizens and 26,411 people from the countries of the European Union participated.

The trial of an employee at the Single Social Security Entity (EFKA) accused of bribery has been deferred to November 14 after appearing in an Athens court on Saturday. 

The 49-year-old EFKA employee is accused of pressuring a 56-year-old woman to pay 4,000 euros in order to secure a disability allowance for her mother. 

The European Commission's report on the rule of law in Bulgaria for the past year highlights a lack of progress in securing effective investigations and a sufficient number of final convictions for high-level corruption. It also points out the need for reforms in the anti-corruption commission.

The unfolding revelations regarding mafia activities in municipalities, urban planning offices, and other services should seriously concern us. Under no circumstances should we become accustomed to this or consider it routine.

Although the large listed companies have complied with the new legal and regulatory corporate governance provisions on the number of independent members on the boards of directors and the minimum 25% participation of women in them, the substantial change in mentality seems to still be taking time.