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Globo Chief Operating Officer Resigns After Administrators Called In

Wed, 04th Nov 2015 09:52

LONDON (Alliance News) - Globo PLC on Wednesday said its chief operating officer has now resigned, having previously been suspended following the company disclosing problems in its accounts in recent weeks which culminated in it being placed into administration on Tuesday.

Globo said Gerasimos Bonanos, its COO, has now resigned, having previously been suspended after it had disclosed "certain matters regarding the falsification of data and the misrepresentation of the company's financial situation" to law enforcement agencies in the UK, Greece and Cyprus last week.

Chief Executive and founder Costis Papadimitrakopoulos and Chief Financial Officer Dimitris Gryparis both had already resigned following the disclosure of the problems.

The company was placed into the hands of administrators on Tuesday and is currently under investigation by the UK's Financial Conduct Authority.

Its shares remain suspended.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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