Breaking news

Cyta Seeks Visionary Leadership in New Era of Telecommunications

The Cyprus Telecommunications Authority (Cyta) has embarked on a transformative journey by launching its search for a new chief executive officer. This move signals the beginning of what the authority describes as a ‘new era’ that aims at fortifying its strategic direction, operational efficiency, and its pivotal role in driving technological progress within Cyprus’s vibrant digital economy.

Defining the Future of Leadership

In its recent announcement, Cyta outlined that the incoming CEO will be charged with guiding the organization through a rapidly evolving telecommunications landscape. The successful candidate is expected to exhibit a blend of vision, strategic thinking, and formidable leadership skills. As the industry navigates unprecedented challenges and opportunities, the role is central to reinforcing Cyta’s commitment to innovation and digital transformation.

Context and Governance Considerations

The search for a new leader follows the departure of former CEO Andreas Neocleous, whose resignation on September 12, 2025, left a significant leadership void. This leadership transition comes amid ongoing debates about restructuring Cyta’s governance model. The Cypriot telecommunications trade union, Epoet, has notably called for the appointment of an executive chairman with reduced CEO powers to ensure a balanced interplay between executive leadership and board oversight.

A Call for Transparent and Meritocratic Processes

In its call for applications, Cyta emphasized the importance of transparent recruitment practices and competitive remuneration aligned with performance metrics. The union has been vocal about the need to fill the CEO position only after legislating the role of an executive chairman—an initiative aimed at preventing past conflicts between the board and leadership. Advocates argue that such reforms are critical for sustaining Cyta’s robust performance and its substantial annual turnover of nearly half a billion euros, along with a workforce of approximately 2,100 employees.

Looking Ahead

This leadership search represents more than a routine executive appointment; it is a definitive stride towards recalibrating a legacy organization for future challenges. With an eye on fostering both strategic innovation and prudent governance, Cyta appears well-positioned to navigate the competitive telecommunications landscape and contribute decisively to Cyprus’s ongoing digital evolution.

doValue Cyprus Strengthens Market Leadership With New Astrobank Portfolio

Expanding Market Influence

Loan and real estate management firm doValue Cyprus has significantly reinforced its domestic presence in non-performing loan servicing by acquiring a new portfolio from Astrobank Public Company Limited. This development follows Astrobank’s recent transition, marked by the transfer of key operations to Alpha Bank Cyprus Limited and the subsequent surrender of its banking licence.

Strategic Acquisition And Swift Execution

Finalized on November 3, 2025, the agreement underscores a decisive strategic shift as doValue Cyprus assumes management of Astrobank’s remaining portfolio. The immediate commencement of portfolio management is a testament to the firm’s commitment to delivering specialized, resilient solutions within the non-performing loan market.

Expertise Driving Market Growth

Chief Executive Officer Varnavas Kourounas emphasized that the latest portfolio acquisition not only expands the firm’s operational footprint but also validates its credibility and deep expertise in the competitive Cypriot financial sector. The strategic move is aligned with the broader growth ambitions of the doValue Group.

Broader Market Implications

Operating as part of the international doValue Group—the largest independent loan and real estate management organization in Southern Europe—doValue Cyprus is well-positioned to leverage its newly expanded portfolio. With approximately €136 billion in assets under management, the group maintains a dominant presence across Italy, Greece, Spain, Portugal, and Cyprus. Moreover, its subsidiary, Altamira Real Estate, runs Cyprus’ largest real estate platform, managing extensive property portfolios alongside the island’s most comprehensive sales network.

The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter