OLP Head Resigns at Odds Over Majority Stake Sale of Piraeus Port

Piraeus Port. Photo © Lefteris Papaulakis / Shutterstock

Piraeus Port Authority (OLP) Chairman and Chief Executive Yiorgos Anomeritis resigned from his post on Wednesday, citing among other things his disagreement over the privatization of the port.

Yiorgos Anomeritis

“I understand the difficult moments our country is facing as well as the government’s efforts to end the crisis but my positions concerning the port industry and OLP remain unchanged, since only these ensure the best interest of the public and the port employees and will lead our country to growth,” Mr Anomeritis said in his letter to Deputy Shipping Minister Thodoris Dritsas.

Anomeritis, who served OLP for almost four years through government and TAIPED management changes had repeatedly expressed his disagreement over the government’s decision to sell off OLP.

The sale of a 67.7 percent stake to Chinese shipping conglomerate Cosco, which is expected to bring in some 500 million euros to state coffers, has been on the back burner since January, when the then newly-elected government had decided to reconsider all privatisation projects in order “to improve conditions and maximize the long-term benefits to the public, increase revenue, enhance competition in local economies, restore the national economy and enhance long-term growth prospects”.

Mr Anomeritis resignation will take effect following OLP’s annual general shareholders meeting on Saturday.

Today, he is expected to meet with Public Assets Management Fund (TAIPED) President Stergios Pitsiorlas to discuss among other issues his successor. He was expected to introduce a two-year collective labor contract with all unions.

TAIPED currently holds 74 percent of listed OLP.