The Executive Board has three members. Two (2) of its members, including the Chief Executive Officer, are selected from among individuals with international experience in banking or credit institution resolution. One of the members of the Executive Board is nominated by the Bank of Greece. A member of the Executive Board is designated responsible for strengthening the Fund’s role in facilitating the resolution of non-performing loans of credit institutions in which the Fund has a stake.
The members of the Executive Board are selected by the Selection Panel following a public call for interest and are appointed by decision of the Minister of Finance. Their term of office is three years, renewable and may not exceed the Fund’s duration. The appointment and renewal of their term of office, as well as their remuneration, requires the consent of the Euro Working Group.
The Executive Board is responsible for the preparation of the Fund’s work, the implementation of competent bodies’ decisions and the execution of the administrational and operational tasks, as well as the fulfilment of the Fund’s purpose.
The meetings of the Executive Board are secret. The European Commission, the European Central Bank and the European Stability Mechanism also appoint from one Observer each and their Deputies to attend these meetings.