Demetra says Logicom board appointment does not represent the firm

Nicosia, Cyprus. Demetra Holdings said the appointment of company official Ioannis Eirinarchos to the board of Logicom Plc was made in his personal capacity and does not represent the investment firm.

The company said the appointment was not accompanied by any agreement, arrangement or understanding between Demetra Holdings and Logicom or its shareholders.

Demetra clarification

In an announcement to investors, Demetra said Eirinarchos had been appointed as a non-independent, non-executive director of technology company Logicom Plc, following an announcement by Logicom earlier in the day.

Demetra stressed that Eirinarchos will not represent Demetra Holdings on Logicom’s board.

It added that it has a conflict-of-interest management framework covering Eirinarchos’ dual capacity as a company official and a member of Logicom’s board.

Logicom board committees

Logicom announced on Tuesday that its board had approved the immediate appointment of Ioannis Kosmas Eirinarchos as a non-independent, non-executive board member.

Following the appointment, Logicom’s board decided at a meeting on August 25, 2026, to reconstitute its internal committees in line with the Corporate Governance Code, with the changes taking immediate effect.

The Nomination Committee is chaired by independent non-executive director Christoforos Hadjikyprianou. Its members are executive non-independent director Varnavas Eirinarchos and independent non-executive director Giorgos Papaioannou.

The Audit Committee is chaired by independent non-executive director Andreas Konstantinidis. Its members are independent non-executive directors Giorgos Papaioannou and Neoclis Nicolaou, and Ioannis Kosmas Eirinarchos.

The Remuneration Committee is chaired by Hadjikyprianou, with Papaioannou serving as its other member.