George Stassis, the new President, CEO of Public Power Company

George Stassis, engineer and executive of multinational energy group ENEL, is the new President and Chief Executive Officer of Greece’s Public Power Company (PPC), was reported on Monday evening.

The proposal for Stassis will be formally submitted by the board of directors of the Hellenic Holdings and Property Company (EESP) at the general meeting of PPC shareholders, due to convene soon.

Speaking to Athens-Macedonian News Agency (ANA), associates of the Minister of Environment and Energy Kostis Hatzidakis said that “George Stassis is a manager in the energy sector, holds a career in a large multinational company, has experience in energy business restructuring, is young, Greek, and is returning home, from abroad, to help with the government’s effort.”

PPC’s new manager is faced with a series of challenges including losses, high costs of obsolete plants, liberalisation of the electricity market, and the acceleration of investments in renewable sources.