Head of Greece's Biggest Port Resigns

Piraeus Port

Published Jun 10, 2015 10:23 AM by Reuters

The head of Greece's biggest port Piraeus will step down, a statement said on Wednesday, after the port was once more named as a target for privatization in the country's cash-for-reforms negotiations with international creditors.

Chief Executive Yiorgos Anomeritis has headed the port since 2009. In February, he had informed the new leftist-led government he would stay on until the company's annual shareholder meeting -- which takes place on Saturday -- to help the government in their first months in power.

Piraeus Port is majority state-owned and China's Cosco has been operating two of the port's cargo piers since 2008.

The sale of a majority stake in the port was part of Greece's privatization plan under its 240 billion euro bailout with the European Union and the International Monetary Fund.

Tsipras' government halted the privatization after it came in power in January but relaunched it last month, as a concession to break a four-month impasse in negotiations.

Anomeritis had opposed the sale of a majority stake, saying that ports can be managed by different operators but should be majority-owned by the state.