CTC announces management changes across group, with new chairman from 2027

The Cyprus Trading Corporation (CTC) on Thursday announced a series of management changes across its businesses, including a new board chairman from January 2027 and appointments to senior financial and operational roles taking effect from November 1, 2026. The changes are intended to strengthen the group’s management structure and support its next phase of development and growth across its main areas of activity. Christakis Charalambous will become non-executive chairman of the board on January 1, 2027, succeeding Demetris Demetriou, who will remain a member of the board. Charalambous is already a board member and chairman of the board executive committee. He also serves on the board of Hermes Airports, the Nicosia Chamber of Commerce and Industry (Evel) and the Cyprus Employers and Industrialists Federation (Oev).

The board expressed its appreciation to Demetriou for his contribution during his tenure as chairman. The board executive committee currently comprises Charalambous, Eleni Shacola, Chrysoula Shacola and George Louca. A further change will see Maria Kaimi, the group’s internal legal adviser, become company secretary on January 1, 2027, succeeding George Mitsides. The board also thanked Mitsides for his many years of service to the group. From November 1, 2026, Louca, currently group finance and IT director, will take on the newly combined role of chief financial and operating officer (CFOO) . The position brings together the traditionally separate responsibilities of chief financial officer and chief operating officer, with the aim of integrating financial planning, resource allocation and operational efficiency across the group. Louca will report to the board executive committee while retaining his positions as a board member of CTC, Woolworth and Ermes, as…