BANK South Pacific has a new chairman, and he is Kostas Constantinou, The National reports.
Chief executive officer Ian Clyne announced that Constantinou was elected unanimously after Noreo Beangke stepped down during a special board meeting of the directors yesterday.
Constantinou had been a director of BSP since April 2009.
He is a prominent businessman in PNG and is chairman of Airways Hotel and Apartments Ltd, Airways Residences Ltd, Lamana Hotel Ltd, Hebou Constructions (PNG) Ltd, a director of Gazelle International Hotel Ltd, Heritage Park Hotel Ltd in the
Constantinou was also a director of POMSoX-listed Airlines PNG Ltd and ASX-listed Oil Search Ltd.
Clyne, on behalf of the board, congratulated Constantinou on his appointment as BSP chairman.
He said Constantinou was a well regarded and successful businessman in PNG, and that he would bring a wealth of experience to the role of chairman of BSP.
Constantinou and Clyne both expressed their gratitude to Beangke who had been a director of BSP since August 1993 and chairman since May 1994.
During that period, Beangke was instrumental in the development of BSP as a PNG-owned commercial bank following the exit of National Australia Bank as owner of BSP in 1993, which ultimately led to BSP amalgamating with PNGBC when PNGBC was privatised in 2002.
Beangke provided leadership and vision during this period and also oversaw the development and implementation of BSP’s Paci_c strategy that led to BSP operating in Niue, the
Beangke would remain on the board as a director.
Tom Fox was also re-elected as deputy chairman.