Intracom Defense (IDE) completes its transition to the new era of the defense industry with Michalis Chamaz as president and an increase of its share capital by 20%. As noted in a related announcement, after its acquisition by Israel Aerospace Industries (IAI) in June 2023 and with the aim of further strengthening its dynamic development path, the general assembly of January 20, 2025, approved the new Board of Directors of IDE, which is made up of highly skilled and experienced market executives.

The managing director, Georgios Troullinos, said: “It is with great pleasure that I welcome Michalis Chamaz and the new board members to the IDE family, who I strongly believe will contribute significantly to our quest for technological development and excellence,” while describing in rough lines IDE’s vision: “IDE has so far managed to grow in Greece and abroad thanks to its consistency, innovation and extroversion. The new geopolitical data create important opportunities for further development, in the Space and Defense field, which IDE aims at. With the increase of the company’s share capital and the expansion of the Board of Directors with new valuable executives, with significant experience and abilities, the company will achieve its high goals”.

For his part, Michalis Chamaz stressed: “I take over as chairman of the Board of Intracom Defense with a sense of responsibility and a commitment to contribute to the further development of Greek defense technology. Intracom Defense has already charted a remarkable course, thanks to its capable executives, brilliant scientists and dedication to innovation and cutting-edge technologies under the leadership and vision of its capable and outstanding CEO, Georgios Troullinos.”

Mr. Chamaz went on to identify the dynamic goals of the new era: “Our goal is to continue to pioneer, strengthening both the technological development of our country and its defense armor. For me, it is a national duty to ensure that a Greek defense technology company remains at the forefront of innovation, contributing to the formation of a strong and self-sufficient defense ecosystem of our homeland.”

The composition of the new Board of Directors of IDE is as follows:

1. Michalis Chamaz – Chairman of the Board (non-executive Member)

2. Georgios Troullinos – CEO (Executive Member)

3. Stavros Banos (non-executive Member)

4. Abraham Moses (non-executive Member)

5. Angeliki Petropoulou (Executive Member)

It should be noted that in the new composition, in addition to Mr. Chamaz, two more new members are participating, the Vice-Admiral e.a. Stavros Banos, honorary director of the National Operations Center of the National Defense General Staff, as well as Avraam-Minos Mousis, an experienced senior executive in the financial sector and in consulting services.

IAI proceeded to increase IDE’s share capital with the aim of developing and strengthening the company’s technological capabilities and infrastructure in the Space and Defense sectors, as well as supporting the economy and defense capabilities of Greece.

Since 1992, IDE has continuously invested in cutting-edge technologies, designing, developing and manufacturing innovative defense systems. Due to the high level of its staff and its technological infrastructure, it has been trusted by leading companies abroad, such as RAYTHEON, DIEHL, BOEING, REINMETALL and KMW.

From 2023, according to the same announcement, it has tripled the amount of its new contracts for future projects, having demonstrated remarkable compliance with its commitments – both in terms of times and in terms of quality – to its domestic and international customers, while the 2025 will increase its high-level human resources by 25%, i.e. more than 100 new jobs will be created.