Karyes Investments Public Company Ltd. announced that Aris Sakorafos and Chrysis Pegasiou have submitted their resignation from their position as board members. The board of directors, at a meeting held June 17, 2015, accepted their resignations and also decided to appoint Emilia Christodoulou and Stavros Michalas. Michalas is a member of the Institute of Certified Accountants and Certified Auditors of Cyprus, member of the Corporate Governance Committee and the Risk Management Committee and member of the Educational Commission.

He has experience in business administration and the listed companies.