NEW YORK, Oct. 6, 2014 /PRNewswire/ -- Wilbur Ross and Tyrus Capital announced today a proposal to elect a new Board of Directors of Bank of Cyprus at the November 20 Annual General Meeting. The new Board has been selected to add financial expertise and will better reflect the shareholder base following the recent stock issuance. The proposed members are: Dr. Josef Ackermann, Former CEO of Deutsche Bank; Arne Berggren, nominated independently by the European Bank for Reconstruction and Development; Maksim Goldman, a Director of Strategic Projects at Renova; John Hourican, CEO of Bank of Cyprus; Christakis Patsalides, Finance Director of the Bank; Wilbur Ross, Chairman of WL Ross & Co; Michael Spanos, a former director of the Central Bank of Cyprus; Vladimir Strzhalkovskiy, Vice Chairman of the Board of Bank of Cyprus; Ioannis Zographakis, Chairman of the Bank of Cyprus Audit Committee; and Marios Kalochoritis, director of the Bank of Cyprus. This Group intends to elect Dr. Ackermann as non-executive Chairman of the Board and Messrs. Ross and Strzhalkovskiy as Vice-Chairmen. All board memberships are naturally subject to approval by the Central Bank of Cyprus.
SOURCE Wilbur Ross