The HRADF is administered by the Board of Directors (BoD) consisting of five members and appointed by General Shareholder's Meeting decision, published in the Greek Government Gazette, for a three-year term, renewable for an equal period of time.

In addition, two representatives appointed by the Eurozone member states and the European Commission are entitled to participate in the Fund's Board Meetings as observers, without voting rights.

The Fund’s operation is also supported by a Council of Experts, persons of wide acclaim, distinguished for their scientific training and professional experience in the technical, economic or legal sector. These are appointed by a decision of the company’s BoD for a three-year term, renewable for an equal period of time.

For an overview of the HRADF’s organizational structure, see the chart at the end of the page.

Board of Directors

The present Board of Directors consists of the following members:

Emmanuel C. Kondylis, Chairman

Dr. Emmanuel C. Kondylis is Professor Emeritus of Business Administration and ex. Director of the Management Unit and the M.B.A. – Tourism Management Program at the University of Piraeus. He holds a Ph.D. (Operations Research) from Case Western Reserve University, Weatherhead School of Management - U.S.A., an M.Sc. from Case Institute of Technology – U.S.A., and a B.S. in Mathematics from the University of Athens. He has extensive managerial and consulting experience, serving in various top managerial positions, including the ones of Chairman of the Board and Chief Executive Officer: Montgomery Ward, Eaton Corporation, Ciba Geigy, ETA – Public Properties Company (Chairman), Doxiadis Office / Dubai & Khartoum, Heracles Cement (C.E.O.), Lava, Industrial Minerals, Lato, Astir, EVIESK, Heracles Packing, National Telecommunications Authority, etc. He has initiated, organized and directed the Productivity Assessment Program (PAP) and the Zero Base Budgeting (ZBB) application, implemented in 20 Ministries and 30 Companies / Corporations. (He also served as Vice President of the Public Management Improvement Committee of O.E.C.D. – Paris). His teaching and research interests comprise areas such as: Leadership, Entrepreneurship, Project Management, Total Quality Management, Strategic Management and Applied Statistics.

Paschalis Bouchoris, Chief Executive Officer

Paschalis Bouchoris was born in Athens in 1968. He studied Electrical Engineering at the National Technical University of Athens and holds a Master of Business Administration (MBA) from Rotterdam School of Management. Prior to his current position, he worked for National Bank of Greece in several senior management positions overseeing the activities of large corporate special assets (NPLs), international corporate banking, and private equity (mid-market buyouts and development finance). His past experience also includes executive and advisory positions in the US and Greece specializing in restructurings, M&A and corporate investments.

Aris Kallipolitis, Member of the Board

Aris Kallipolitis was born in Athens. He holds a Bachelor’s Degree from the Department of Physics and Mathematics of the University of Athens, a Master’s Degree from the Sorbonne University (Paris), a Ph.D. Doctoral Thesis from Athens University, Diploma in Business Administration from the Business Administration Institute of Paris. Scientific research for five years at the University of Paris and the Ecole Superieure de Chimie. Executive in enterprises in the private and public sector. Executive Director, AGET – Heracles cement group. Managing Director, “Agrotiki-Techniki SA”. President of the BoD, “ATE-Karta SA”. Managing Director, “Synergal SA”. Executive Diurector, “AGNO SA”. Vice President of the BoD, “E.P.A.S. SA”. Managing Director, “Piraiki – Patraiki SA”. Managing Director, “Gavriil SA”. Managing Director, “VIOELLAS SA”. Executive Director, “Public Organisation for the Reconstruction of Enterprises”. Manager on the Organization Committee for Olympic Games 2004. Director, “ATE-Bank”.

Constantinos Kefalogiannis, Member of the Board

Costas Kefalogiannis has a degree in Engineering Science (B.E) & a Specialization at Aerospace Engineering, Hofstra University, N.Y, USA. He has an extensive experience in investment/ major construction projects in the USA & E.U. He has been an advisor to the Greek Government responsible for, the new Athens Airport "Eleftherios Venizelos" development & construction, the Olympic Games transport construction works (Suburban railway, Metro, Tram), the private sector concessions (PPP's), the Greek assets development and Government monitoring & evaluation. He had been, for 12 consecutive years a Special Advisor to the Olympic Airways Group of companies (OA) and a BoD member of public companies (OSE, OASA Athens Urban Transport Organisation, Hellenic Post). He is a member of Special Supreme Arbitration Courts.


  • Zenon Kontolemis
  • Philippe Boin