Michael Tsamaz Steps Down as OTE CEO; Kostas Nebis Appointed Successor

OTE

Hellenic Telecommunications Organization S.A. (OTE) announced on Thursday that its long-serving CEO and Chairman of the Board, Michael Tsamaz, will step down at the end of June 2024, when his contract expires. The OTE Board, which met on Thursday, unanimously recommended Kostas Nebis as his successor, effective July 1, 2024.

Michael Tsamaz, Chairman & CEO, OTE Group

The company acknowledged Tsamaz's significant contributions as OTE's longest-serving leader since November 2010. Recognizing his focus on customer experience, the statement commended his leadership in transforming OTE into a modern, high-performing technology company with strong financial foundations.

During Tsamaz's tenure, OTE established itself as the leading investor in next-generation networks and technological infrastructure in Greece, playing a crucial role in the country's digitalization efforts across society and businesses. The company's success extended beyond infrastructure, as it cemented its position as a leader in all core telco segments: Fixed, Mobile, Pay TV, and ICT. Additionally, OTE ventured into non-core sectors like FinTech, food delivery, and insurance aggregation through strategic start-ups.

Kostas Nebis

Tsamaz's vision for OTE's future, as outlined in the company's 2030 plan, is to become a leading sustainable digital services provider, continuously enhancing shareholder value.

Nebis brings extensive telecommunications industry experience to his new role, having served as CEO and President of the Board at Hrvatski Telekom, a Deutsche Telekom majority-owned company in Croatia, since April 2019. He successfully turned the company around in this position, focusing on employee and customer satisfaction while driving strong business results. His leadership resulted in accelerated growth and the defence of Hrvatski Telekom's leading market position through significant investments in gigabit infrastructure and digital solutions.

Nebis's prior experience includes the role of Chief Commercial Officer for residential customers in OTE Group and Marketing Director in COSMOTE Greece, demonstrating his deep understanding of the Greek telecommunications landscape.

The OTE Board expressed its confidence in Nebis's ability to build upon Tsamaz's legacy and lead the company into its next chapter of growth and innovation.

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