Ermes Department Store Plc on Monday announced the appointment of Polys Michaelides as an independent non-executive director of the company’s board of directors.

According to the relevant submission to the Cyprus Stock Exchange (CSE), the decision was made following a resolution by the board.

The announcement noted that Michaelides holds a degree in business studies from London and is a Fellow of the Institute of Chartered Accountants in England and Wales.

His ongoing professional education includes accounting, anti-money laundering, compliance and investment frameworks, including MiFID and SFDR regulations.

The announcement said that he brings “extensive experience” to the company, having previously served as chief financial officer, legal director, data protection and anti-money laundering director, and company secretary in leading insurance groups operating in Cyprus and Greece.

In addition to his appointment to the board, Michaelides has been named chairman of the audit and risk committee of Ermes Department Store Plc.

The audit and risk committee will now comprise Polys Michaelides as chairman, with Demetris Demetriou, Menelaos Shacolas and Costas Severis serving as members.

The company stated that the committee’s composition complies with the requirements of the Cyprus Securities Exchange Corporate Governance Code. The appointments took effect on June 23, 2025.

Meanwhile, Woolworth (Cyprus) Properties Plc also announced a change to its board committees.

Following a decision by its board of directors, Menelaos Shacolas, who serves as a non-executive member of the board of directors, has been appointed as a member of the company’s nominations committee.

The appointment became effective on June 20, 2025.

With this addition, the nominations committee of Woolworth (Cyprus) Properties Plc now consists of Demetris Demetriou as chairman, with Christakis Charalambous and Menelaos Shacolas as members.

The company confirmed that this composition remains in full compliance with the provisions of the corporate governance code of the Cyprus Stock Exchange concerning the nominations committee.

Both announcements were signed by George Mitsides, company secretary.

Copies of the announcements have also been submitted to the Cyprus Securities and Exchange Commission (CySEC) in accordance with the Cyprus Stock Exchange regulations and the corporate governance code.