Eleni Vasileiadou has previously worked as business development manager for major oil and gas company Shell International Gas Ltd (UK), among others.

She is taking over as DEFA head following the cabinet’s political decision to sack the previous chairman, Costas Ioannou, over alleged actions committed in his previous role as head of the energy regulator.

The cabinet yesterday also appointed businessman Michalis Andreou to the DEFA board.

A political decision to sack Ioannou was taken after the attorney-general submitted a report to the cabinet, with the government spokesman speaking of “serious misconduct.”

Ioannou, who has the right of appeal, previously declined commenting to the Cyprus Mail but has said he plans to contest the decision.

Police have confirmed that the investigation into Ioannou draws on an ongoing civil lawsuit filed with Limassol district court.

The lawsuit concerns a licence awarded to a Russian company to operate a private power station. The licence was given in 2009 while Ioannou was chairman of the energy regulator, CERA.

To obtain the licence, the company had engaged the services of Andreas Hayiannis as a mediator/facilitator. Hayiannis is a relative of Ioannou’s.

Published by: www.cyprus-mail.com