Public Power Corp’s chief executive officer resigned late Tuesday after two years in the post.
“The general shareholders meeting will elect the new CEO, while the president of the company Constantine Kyriakopoulos will be the acting CEO until then.” PPC said in a terse statement.
PPC is state-controlled, with the state’s direct and indirect stake exceeding 51%.
Dimitris Maniatakis’ resignation is the second top-ranking official’s departure in PPC within the last three months. Grigoris Anastasiadis, the company's CFO resigned late September.
In early trading, the stock gave up 0.8% amid a rising overall market.
Bad full-year earnings performance, analysts see an over 40% fall in PPC’s 2006 net profits, along with the state’s influence which control the company’s tariff regime and the human resources status were cited for Maniatakis resignation.