Greek jeweller Folli appoints new CFO

Folli Follie SA

10/01/2019 08:16

ATHENS, Jan 10 (Reuters) - Greek jewellery maker Folli
Follie  HDFr.AT  has appointed a new chief financial officer as
the troubled company seeks to overhaul its business after an
accounting misconduct scandal.
    George Samios, who holds a degree in banking, finance and
risk management assumed the CFO role on Jan. 9, Folli said in a
bourse filing late on Wednesday.
    Folli last month unveiled a draft restructuring plan after a
hedge fund report in May sent its shares into a tailspin,
prompting a legal investigation, a fine from the Greek
securities watchdog and the resignation of the company's
founders.  urn:newsml:reuters.com:*:nL8N1YN5LC
    The company has admitted to large discrepancies in its 2017
financial statements after an initial audit, appointed new board
members and begun talks with creditors on how it will be
restructured to avoid collapse.
    Under a process initiated last month to seek creditor
approval of the planned overhaul, a bondholder meeting had been
set for Jan. 9. However, Folli said on Wednesday that the
meeting was adjourned because it was short of a quorum. 

 (Reporting Angeliki Koutantou
Editing by David Goodman)
 ((lefteris.papadimas@thomsonreuters.com; +30 210 3376477;
Reuters Messaging: lefteris.papadimas.reuters.com@reuters.net))