LAMDA DEVELOPMENT ANNOUNCES CEO LEADERSHIP TRANSITION

Maroussi, 26 October 2026

Lamda Development S.A. (LAMDA) announces that Mr. Odisseas Athanasiou will step down on 31 December 2026, after 18 years in his current position as Chief Executive Officer and 21 years with the company.

The Board of Directors has appointed Ms. Evie Kostakis, as Chief Executive Officer effective 1 January 2027. Ms. Kostakis is a senior international executive with over 25 years of experience, most recently as Group CFO and Executive Board member of Swiss Bank Julius Baer Group. She brings deep financial and strategic acumen coupled with extensive M&A, capital management and transformation expertise.

During Mr. Athanasiou’s leadership, LAMDA became one of Southeastern Europe’s leading real estate development and management groups, increasing its total assets fivefold to approximately €5bn and quadrupling its NAV to approx. €1.5bn.

Mr. Athanasiou played a decisive role in securing and advancing the landmark Ellinikon investment, overcoming complex institutional, permitting, funding and construction challenges to bring Europe’s largest urban regeneration project into implementation. He also strengthened Lamda’s leading shopping centre and marina businesses, taking over in the peak of the financial crisis.
Effective 1 January 2027, Mr. Athanasiou will become an Adviser to Consolidated Lamda Holdings (CLH), focusing on relations with institutional bodies and State authorities.

Statement by Dr. Spiro Latsis: “Odisseas Athanasiou has played a decisive role in shaping LAMDA as we know it today. His leadership spanned some of the most challenging and significant periods in its history, from the financial crisis to the undertaking and implementation of The Ellinikon. We deeply appreciate his contribution and the trust built over these years. His continuing collaboration through CLH will draw on his experience and business judgement. We welcome Evie Kostakis and are confident that her fresh perspective and leadership will support LAMDA’s next phase of development”.

Statement by Mr. Stefanos Kotsolis, Chairman: “On behalf of the Board, I thank Odisseas Athanasiou for his dedicated leadership. He has been instrumental in establishing a strong foundation for the Company’s future. We are delighted that Evie Kostakis will join us as our new Chief Executive Officer and look forward to working together to further advance the Company’s strategic priorities capitalizing on our accomplishments to date”.

Statement by Mr. Odisseas Athanasiou: “LAMDA has been far more than the most important chapter of my professional life. Dr Spiro Latsis’ vision was one that I deeply believed in and shared, and together with the people of LAMDA, I dedicated myself to shaping its direction and bringing it to life. It became a life’s mission. Through successive crises and exceptionally demanding circumstances, we succeeded in transforming the Company and bringing to life a project that, for many years, had been considered almost impossible. The Ellinikon has now moved from promise to implementation. And this is perhaps the most meaningful moment at which one chapter can close, and another can begin. I deeply value the longstanding relationship of mutual trust and respect I have built with Dr. Spiro Latsis and his family, and I look forward to continuing this collaboration in the years ahead. As I embark on this new chapter, my confidence in Lamda’s future remains strong, reflected in my decision to retain my shareholding in the company”.

Statement by Ms. Evie Kostakis: “I am honoured by the trust the Board and our shareholders have placed in me, and grateful to Mr. Athanasiou, whose leadership made LAMDA what it is today. LAMDA has a strong recurring platform in its malls and marinas, while The Ellinikon, which is reshaping Athens, is now moving from construction to delivery, with the first residents arriving over the next two years. My priorities are clear: to keep the momentum, deliver what we have promised to our customers and to the Greek State, fulfil the promises we have made to local communities, keep growing the income of our malls and marinas, and maintain the financial discipline that has earned LAMDA the confidence of its investors. I look forward to driving LAMDA’s strategic vision and working with an exceptional team”.

About LAMDA Development
LAMDA Development S.A., founded by the Spiro Latsis family, is listed on the Main Market of the Euronext Athens. This premier holding company, in which the Spiro Latsis family interests continue to hold a controlling stake, is engaged in the development, investment and management of real estate assets. The Group holds a leading position in Greece’s large-scale retail entertainment property sector, while also maintaining a strong presence in residential and office developments primarily in Greece and Southeastern Europe. The Group’s diversified investment portfolio includes four major shopping and entertainment centers-The Mall Athens, Golden Hall, Designer Outlet Athens, and Mediterranean Cosmos in Thessaloniki-alongside strategic land holdings and high-profile Marina assets, including Flisvos Marina, Agios Kosmas Marina and the mega-yacht Marina in Corfu. LAMDA Development is currently spearheading The Ellinikon, Europe’s largest urban regeneration project. Located on the site of the former Athens International Airport, The Ellinikon will become a next-generation “smart” city, anchored by Europe’s largest coastal park. The development will integrate modern residences, commercial and leisure hubs, luxury hotels, cultural venues, sports, education, healthcare, business district and recreation facilities, all designed around the core principles of sustainability and innovation.

www.lamdadev.com 
www.theellinikon.com.gr 

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