Xryma Plc Board Shuffles After Two Independent Directors Resign

Christakis Taoushanis, who served as chairman for nearly a decade, stepped down in alignment with Central Bank of Cyprus (CBC) policies. Under current guidelines, directors exceeding a 10-year tenure are no longer classified as independent, a status necessary to maintain the board's mandated ratio of independent non-executive to executive members. Taoushanis oversaw the firm’s regulatory authorization, a demerger, and its expansion into European Central Bank infrastructure.

Adonis Pegasiou, a board member since June 2022, cited professional conflicts as the reason for his departure. As the Academic Director of the European Institute of Management and Finance, Pegasiou noted that his primary role requires increasing attention, leaving him insufficient time to meet the rigorous oversight standards required by Xryma's growing business complexity. Group CEO Nikogiannis Karantzis acknowledged both departures, praising Taoushanis for his long-term leadership and mentorship, while commending Pegasiou for his contributions to the firm's governance and compliance frameworks.