OTE Group CEO, Chairman Tsamaz to Step-Down Next June

The chairman and CEO of telecoms provider OTE Group, Michael Tsamaz, on Thursday announced his departure from the company after 14 years at its helm. Tsamaz said he will leave the OTE group in June 2024, when his contract expires.

In a related development, OTE’s board members unanimously voted on the same day to propose the election of Kostas Nebis as the new chairman of the board and CEO to succeed Tsamaz. A majority vote is required at the annual general shareholders’ meeting to elect a new CEO and chairman.

Nebis is currently the CEO of Hrvatski Telekom, the biggest telecoms group in Croatia and another majority-owned (53%) subsidiary of Deutsche Telekom Europe B.V.

Tsamaz began with the then state-controlled OTE in 2001, while leading the largest telephony provider in Greece after DT acquired a majority stake.

He is the longest servicing CEO and chairman in OTE’s history, beginning his tenure in the twin posts in November 2010, amid the tumultuous period that characterized the first institutional bailout of the Greek state at the time.

OTE and affiliated Cosmote mobile phone network have staked dominant roles in Greece’s telecoms sector, i.e. mobile telephony, mobile, subscriber television and ICT.