By letter dated 07 September 2020, Mr Christos Triantopoulos (General Secretary for Economic Policy at the Ministry of Finance, Hellenic Republic) was nominated by the Government of the Hellenic Republic, by common accord with the constituency of the Kingdom of Denmark, Ireland and Romania, for appointment as a full member of the Audit Committee of the European Investment Bank, to succeed Mr Vasile Iuga who tendered his resignation as Audit Committee member on 02 June 2020, effective as of 08 October 2020, when the term of office of Mr. Christos Triantopoulos shall commence. 

In addition, pursuant to Article 27 of the Bank’s Rules of Procedure, the President of the Bank and the Chairman of the Audit Committee proposed the appointment of Mr Vasile Iuga (Former PwC Audit Partner) from Romania, as Observer to the Audit Committee.

By letter dated 21 September 2020 the Board of Governors was invited to vote on the proposed appointments.  

The decision to appoint Mr Christos Triantopoulos and Mr Vasile Iuga was taken on 08 October 2020, the date on which the requisite majority of Governors’ votes was reached. The new member and observer of the Audit Committee are both appointed for non-renewable terms of office of six (6) years, expiring in 2026, at the end of the day either of the Annual Meeting or of the approval of the financial statements for the previous financial year, whichever is later.