Logicom appoints Anthoulis Papachristoforou chief executive in management reshuffle

Nicosia, Cyprus. Logicom has appointed long-serving executive Anthoulis Papachristoforou as chief executive, giving him responsibility for the Cyprus-listed group’s day-to-day technology operations. Varnavas Irinarchos has stepped away from the chief executive role but remains executive vice-chairman.

New responsibilities

The changes took effect on September 24, following a board decision a day earlier, and are part of a reorganisation of Logicom’s senior executive structure.

Papachristoforou, previously deputy managing director and group chief financial officer, will oversee the daily management of Logicom and its subsidiaries across the technology and IT businesses. He will report to Irinarchos.

Irinarchos will focus on the group’s broader strategy, strategic projects, investments and shareholdings, including Logicom’s interests in Demetra Holdings and desalination. The structure separates management of the core technology business from oversight of the group’s wider investment portfolio.

Operations and investments

Logicom distributes technology products regionally and provides integrated IT and business solutions and managed services. It also holds investments outside its core technology operations. The group says it employs more than 800 people and serves more than 8,000 customers, with operations across Cyprus, Greece, Italy, Germany, Romania, Malta, the Gulf, the Middle East and North Africa.

Its portfolio includes a 38.5 per cent stake in Demetra Holdings and interests in desalination infrastructure. Logicom says its desalination investments include plants that supply a substantial share of Cyprus’ potable water requirements.

First-half performance

The reshuffle follows stronger operating results for the first half of 2026 despite pressure on headline sales. Operating profit rose 8.8 per cent to €19.61 million in the six months to June, from €18.03 million a year earlier. Gross profit increased to €45.12 million from €43.83 million, while gross sales slipped 0.5 per cent to €578.99 million.