Industrial manufacturer ElvalHalcor has appointed Nikolaos Karabateas as its new chief executive officer with immediate effect, the Greek company announced on Monday.
Karabateas, an executive board member who previously served as general manager of the group's aluminium division, steps into the top executive post following a formal resolution approved by the board of directors on November 2, 2026.
The Athens-based firm announced the management succession to market participants pursuant to European Union market disclosure standards, citing Article 17, paragraph 1 of Regulation (EU) 596/2014 of the European Parliament and Council on market abuse.
ElvalHalcor Hellenic Copper and Aluminium Industry S.A. operates as a leading metal processing enterprise listed on the Athens Stock Exchange. Formed through the merger of Greek manufacturing pioneers Elval and Halcor, the industrial company runs major production facilities and exports aluminium rolled products and copper tubes to clients across Europe and international markets, supplying the construction, packaging, heating, and automotive sectors.
New board of directors structure
Following the executive appointment, the company reconstituted its governing board to establish its updated management lineup. Konstantinos Katsaros presides over the ten-member body as board chairman in a non-executive capacity, while Spyridon Kokkolis serves as vice chairman and executive member.
Alongside Karabateas in his newly assigned chief executive role, the executive wing of the board includes Panagiotis Lolos and Andreas Mavroudis. Non-executive board duties are handled by Athanasia Kleniati-Papaioannou and Ioanna Podimata.
Independent non-executive supervision is maintained by three members: Vassilios Loumiotis, Ploutarchos Sakellaris, and Ourania Aikaterinari. The composition balances executive managers responsible for day-to-day operations with independent figures tasked with corporate oversight.
Senior independent director role
In addition to the chief executive appointment, the board passed a unanimous decision to designate Vassilios Loumiotis as its senior independent director. The board highlighted his extensive professional auditing background, advanced academic qualifications, and teaching record in auditing and accounting.
Directors also pointed to his administrative and managerial capabilities, which have been demonstrated through his service on various company boards. Loumiotis has served as both member and committee chairman across several publicly traded corporations, including existing committee work at ElvalHalcor.
The appointment was executed under special practices 2.2.21 and 2.2.22 of the Hellenic Corporate Governance Code, which ElvalHalcor has adopted. The code, published by the Hellenic Corporate Governance Council in June 2021, defines the senior independent director as an intermediary between independent directors, the chairman, and investors, helping maintain balanced board deliberations.
Shareholder mandate and board term
The members of the current board were initially elected by shareholders during the company's ordinary general meeting on May 11, 2026. Under Article 11, paragraph 1 of the corporate articles of association, board appointments operate on an annual mandate scheduled to run until May 11, 2027.
In line with Greek corporate legislation under Article 85, paragraph 1 of Law 4548/2018 and Article 11, paragraph 2 of the corporate charter, the directors will remain in office until the subsequent ordinary general meeting meets in 2027. The legal rules provide that their tenure continues until shareholders reach a formal determination on the board, subject to an overall ceiling of two years.
