John B. Vardinogiannis assumed the position of the president of MOTOR OIL, after the loss of Vardis Vardinogiannis on November 12, according to today’s (Monday) decision of the company’s Board of Directors.

The term of office of the new Board of Directors is valid until the convening of the next General Assembly and until the relevant decision is taken to elect a new Board of Directors.

Ioannis Vardinogiannis was born on April 7, 1962 in Heraklion, Crete, and is the son of Vardis Vardinogiannis and Marianna Vardinogiannis. He attended Athens College and studied economics at Vassar College in New York. Since 1984, he has been working in the businesses of the Vardinogiannis group.

The new Board of Directors was reconstituted into a House as follows:

John B. Vardinogiannis – Chairman of the Board of Directors & Managing Director, Executive Member

Nikolaos Th. Vardinogiannis – Non-Executive Member

Ioannis N. Kosmadakis – Deputy CEO, Executive Member

Petros J. Tzannetakis – Deputy CEO, Executive Member

George I. Prousanidis – Vice President of the Board of Directors – Non-Executive Member (New Member)

Michael-Matheos I.-E. Steiakakis – Executive Member

Niki D. Stouffi – Non-Executive Member

Panagiotis I. Konstantaras – Non-Executive Independent Member

Ourania N-P Aikaterinari – Non-Executive Independent Member

Dimitrios – Antonios A. Non-Executive Independent Member