**Demetra Clarifies Board Appointment of Ioannis Eirinarchos at Logicom**
Cyprus – Demetra Holdings, a Cypriot investment firm, has issued a statement clarifying the recent appointment of Ioannis Eirinarchos to the board of Logicom Plc, a technology company. The firm emphasized that Eirinarchos’ role on Logicom's board is in his personal capacity and does not reflect any official representation of Demetra Holdings.
In an announcement directed towards its investors, Demetra Holdings confirmed that Eirinarchos has been appointed as a non-independent, non-executive director of Logicom. This decision was publicly disclosed by Logicom earlier in the day. Demetra stressed that Eirinarchos will not act as a representative of the investment firm on the Logicom board.
The company further clarified that there are no agreements, arrangements, or understandings between Demetra Holdings and Logicom or its shareholders regarding Eirinarchos’ appointment. To address any potential conflicts of interest arising from his dual roles, Demetra Holdings has implemented a conflict-of-interest management framework.
Logicom announced the appointment of Ioannis Kosmas Eirinarchos on Tuesday, stating that it had received board approval for the position, effective immediately. Following this appointment, Logicom's board convened on August 25, 2026, to reorganize its internal committees in accordance with the Corporate Governance Code.
The restructuring of the committees includes the Nomination Committee, chaired by independent non-executive director Christoforos Hadjikyprianou, with Varnavas Eirinarchos and Giorgos Papaioannou serving as members. The Audit Committee is led by Andreas Konstantinidis, also an independent non-executive director, and includes members Papaioannou, Neoclis Nicolaou, and Ioannis Eirinarchos.
Additionally, the Remuneration Committee is chaired by Hadjikyprianou with Papaioannou as its sole member. The Risk Management Committee, which focuses on identifying and mitigating potential risks, is chaired by Nicolaou and includes Papaioannou, Hadjikyprianou, and Eirinarchos. Lastly, the ESG Committee, which addresses environmental, social, and governance issues, is chaired by Konstantinidis, with members including Anthoulis Papachristoforou, Nicolaou, and Eirinarchos.
Demetra Holdings’ clarification follows Logicom’s announcement regarding Eirinarchos' appointment and his involvement in several board committees. This statement aims to ensure transparency and prevent any misunderstanding regarding the relationship between Eirinarchos’ new role and his responsibilities at Demetra Holdings.
As the situation develops, stakeholders and investors will be closely monitoring the implications of Eirinarchos' appointment on both Logicom and Demetra Holdings.