Sphera Franchise Group S.A. announced that George Argentopoulos' mandate agreement as Chief Executive Officer was terminated by parties' mutual written consent, becoming effective at the same date. Also, on April 23, 2020, Board of Directors took note of the resignation of Georgios Argentopoulos to the mandate of director and to the office of Chairman of the Board within Sphera Franchise Group SA, which will become effective starting with May 28, 2020. On 24 April 2020, Calin Ionescu took over the role of Acting Chief Executive Officer.

Calin Ionescu will retain the office of the Chief Operating Officer within the company.