Demetra Holdings Plc announced that its Board of Directors, at its meeting held earlier on August 5, 2020 approved the appointment of the Vice-Chairman of the Company's Board of Directors, Dr. Nearchos Ioannou, to the position of the Company's Managing Director. As a result of the aforementioned appointment, Dr. Nearchos Ioannou ceases to perform the duties of Vice-Chairman of the Company's Board of Directors and at the same time from independent non-executive director of the Company he becomes an executive director of the Company. Dr. Nearchos Ioannou has been a member of the Company's Board of Directors since 2009. During the 1985-1990 period, he worked as senior officer at Dresdner Bank AG, Duesseldorf.  From 1990 to 2006 he was manager of the International Business Unit of the Bank of Cyprus and from 2006 to 2017 General Manager of the Limassol Cooperative Savings Bank while since 2016 he works as lecturer in finance at the Cyprus University of Technology. He has been a member in a number of Board of Directors of various companies.