Corporate Governance

At Olympia Group, good governance starts with a culture of transparency and inclusion where everyone feels valued and able to challenge and contribute

Good Governance

At Olympia Group, good governance starts with a culture of transparency and inclusion where everyone feels valued and able to challenge and contribute. The group knows that good governance comes from a strong Board of Directors that foster positive social impact and economic value creation, that works as a driver of organizational success. Olympia Group works hard to ensure the existence of a strong Boards of Directors for its subsidiaries, making it a priority for the group to empower them and to promote close co-operation with them, providing assistance when needed.

The founder of the group, Panos Germanos, retains the role of mentor to the board and management, providing guidance and advice.

Board of Directors

The Olympia Group Board of Directors currently consists of eight highly experienced members, with broad and diverse business experience, out of which three are Non-Executive Independent Directors. Our Board of Directors promotes the richness of opinion and it encourages productive dialogue thus ensuring that the decision-making process is thorough, well-thought out and substantial.

Board seats held by women


Ioannis Karagiannis is Executive Chairman of the Olympia Group. During the course of his career, he has held senior executive roles at the Group and its investee companies and has been instrumental in the success of a number of investments, including in the launch of Play, the largest mobile company in Poland, where he was Chairman of the Board.

He currently also serves as Non-Executive Chairman of the Board at Public Group and as a member of the Board at Westnet.

A seasoned executive with a wealth of experience in Marketing, Sales and General Management, across the telecommunications, retail and FMCG sectors, Ioannis Karagiannis is also Board member of the Hellenic Federation of Enterprises.

From 2002 to 2008 he held the role of Chief Executive Officer at Germanos S.A.

Mr. Karagiannis holds an MBA from Bradford Management School and a BSc in Chemical Engineering from the National Technical University of Athens.

Ioannis Karagiannis

Carla Cico holds the role of Vice Chairwoman on the Olympia Group Board of Directors and Chair of the Governance Committee.

She joined the Board of Directors in 2019, bringing with her a wealth of experience in technology and telecommunications in both the public and private sectors, across major markets worldwide.

She also served as Chairman of the Board of Commify Group and as a Board Member of security business, Allegion Plc. Prior to this, she was a member of the Board of Directors at Alcatel-Lucent and E 2v technologies and served as Independent Director at EPTA S.p.A. and World Duty Free.

From 2010 to 2012, Ms. Cico held the position of CEO of Rivoli S.p.A., an infrastructure company and prior to this she served as CEO of Ambrosetti Consulting. ​ She also held the position of CEO at Brazil Telecom between 2001 and 2005 and was ranked as ‘best CEO” in Latin America Telecommunications by Reuters.

Ms. Cico began her career with Italtel in 1987, in the Beijing office. Between 1993 and 1994, she was positioned as Chief Representative of IRI, a state-owned conglomerate with ownership of 100’s of companies with combined revenues in excess of $10 billion.

She holds a bachelor’s degree in Oriental Languages from the University of Venice, an M.S.E. from the University of London and an M.B.A. from the London Business School, Sloan Program.

Carla Cico

Robby Bourlas currently holds the role of Chief Executive Officer at Olympia Group. He also serves as Chairman of the Board at Sunlight Systems and Westnet – subsidiary companies of Olympia Group.

Before taking the role of group CEO in 2018, Mr. Bourlas was Chairman and CEO of Westnet, a technology distribution company and subsidiary of the Olympia Group. He joined Olympia Group in 2006 as Business Development Director of Public, another subsidiary of the Olympia Group. He took on the role of Managing Director of Public in 2008, before becoming the company’s CEO in 2012.

Mr. Bourlas began his career in 1999 as a Senior Analyst at First Manhattan Consulting Group, in New York. Between 2003 and 2006 he served as Commercial Director in Easy Group, London.

Robby Bourlas holds a BSc and an MSc from the Department of Mechanical Engineering of Cornell University, New York, as well as an MBA from Massachusetts Institute of Technology (MIT), Boston. ​

Robby Bourlas

Muriel De Lathouwer has held the position of Independent Non-Executive Director for Olympia Group since 2019, in addition to Chair of the Renumeration Committee. She has over 25 years’ experience in the telecoms, technology, IT and broadcast industries.

Ms. De Lathouwer also serves as Board Member of European storage company Shurgard and computer program, Coderdojo Belgium. She is an Independent Board Member of industrial group CFE, technology company Amoobi and cooperative bank CPH.

Ms. De Lathouwer has also served as a CEO Independent Board Member at EVS Belgium, a broadcast digital video production system.​ Prior to this she founded engineering and environmental consulting firm Ariade Carbone, and was positioned as Chief Marketing Officer at Base, KPN Group Belgium.​

She started her career as an IT Consultant at Accenture, then joined McKinsey & Company as an Associate Principal from 2001 to 2008, where she served clients internationally on issues in the media, telecom and high-tech sectors.

Ms. De Lathouwer holds a Master’s degree in Nuclear Physics Engineering from the University of Brussels and a MBA from INSEAD, Fontainebleau.

Muriel De Lathouwer

Tatiana Fafaliou serves as a member of the Olympia Group Board as a Non-Executive Director since 2013 and Chair of the Audit Committee. She also currently holds the role of CEO of Folloe Capital Investors and Director at the Folloe Fund VCIC, positions she has held since 2017.

Prior to this she held the position of Chief Investment Officer at Olympia Group (2007-2017). She also worked as Investor Relations Officer at Germanos SA between 2004 and 2007.

Ms. Fafaliou spent four years with JP Morgan in London working within the European Derivatives Trading and Asset Management departments(2000-2004).

Ms. Fafaliou holds a BSc Degree in International Economics and Finance from the Athens University of Economics & Business and a Postgraduate Degree in Economics of Transition for Eastern Europe and Russia from London School of Economics.

Tatiana Fafaliou

Georgios Xirouchakis is the General Counsel and Director of Legal Services of Olympia Group and he serves as Executive Director at the Olympia Group Board of Directors. He sits on several boards of various holding and operating companies within the group and he was also a Board Member of the Greek National Museum of Contemporary Art. (2014-2020).

Before taking the role of Group Legal Counsel in 2008, Mr. Xirouchakis, spent two years working as Head of Legal Services for Public (2006-2008), after working for five years within the legal services division of Germanos SA.

Before joining the group, he worked for several well-recognized law firms in Athens specializing in the sphere of corporate and commercial law, mergers and acquisitions (M&A) and companies’ transformations, corporate financing, tax, and real estate projects.

He has been a member of the Athens Bar Association for the last 20 years. Since 2018 he has been regularly listed in the yearly “Legal 500 General Counsel  Powerlist” for Greece and Cyprus.

George Xirouchakis holds a BSc in Economics and a BSc in Law as well as an M.B.A. (with a major in Finance) from the University of Leicester. In 2018 he completed an executive education program in Harvard Law School.

Georgios Xirouchakis

George Tsourapas serves as a member of the Olympia Group Board of Directors as an Independent Director. He previously served as a member of P&G’s Global Executive Leadership Council and a member of the Glad Joint Venture Board of Directors.

George Tsourapas served for 33 years in Procter & Gamble reaching the position of President Global Home Care and Professional Products. He has an extensive track record for leading superior business and organisational results across global organisations in developed and emerging markets. His expertise spans across product and business model innovation, brand creation, organizational transformation, retail strategy and execution, end to end supply chain reinvention, and strategic partnerships.

He holds a Bachelor of Science degree in Chemical Engineering from the National Technical University of Greece and a Master of Science in Management and Computer Sciences from Cranfield University, UK.

George Tsourapas


Olympia Group Board has set up three Committees whose members are all INED

Corporate Governance Committee

Audit Committee

Remuneration & Nominations Committee