Tsotsoros takes over at Hellenic Petroleum

Efstathios Tsotsoros, chairman of Hellenic Petroleum, has taken on the additional position of chief executive, the company said in a bourse filing on Tuesday.

Tsotsoros’s appointment was proposed by the Greek state last week and approved at a board meeting on Tuesday. Grigoris Stergioulis steps down after three years at the helm.

Greece is selling a stake in Hellenic Petroleum, its biggest oil refiner, under its latest bailout program. Its major shareholders, Greece and Paneuropean Oil and Industrial Holdings, have agreed to divest a combined stake of at least 50.1 percent in the refiner through an international tender. [Reuters]