Head of DEH resigns following court indictment

The President and CEO of Greece's state-run power utility company DEH (or PPC), Arthouros Zervos, submitted his resignation to the Productive Reconstruction, Environment and Energy Minister Panagiotis Lafazanis earlier this week who in return accepted it.

In his resignation, Zervos says the decision of the Appeals Council to indict him for breach of faith against the company is an insult to his person. The court said he approved wage hikes for 19 DEH executives in the period 2010-2012, during which a law limiting the salaries of the state company was in place.

According to the law, the monthly wage of an executive could not exceed 5,900 euros.

The Council ruled the accused violated the legislation in question for wage rises causing a reduction of the business' assets for the benefit of third parties.

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