LAMDA Development S.A. (LAMDA) has announced that Mr. Odysseas Athanassiou will step down from his position as Chief Executive Officer on 31 December 2026, following 18 years in the role and a total of 21 years with the Company.
The Board of Directors has appointed Ms. Evi Kostaki as the Company’s new Chief Executive Officer, effective 1 January 2027. Ms. Kostaki is a senior executive with an international career spanning more than 25 years of professional experience, having most recently served as Group CFO and member of the Executive Board of Swiss banking group Julius Baer. She brings deep expertise in financial management and strategy, as well as extensive experience in mergers and acquisitions (M&A), capital management, and business transformation.
During Mr. Athanassiou’s tenure, LAMDA evolved into one of the leading real estate development and management groups in Southeastern Europe, growing its total assets fivefold to approximately €5 billion and quadrupling its Net Asset Value (NAV) to approximately €1.5 billion.
Mr. Athanassiou played a pivotal role in securing and advancing the landmark Ellinikon investment, helping to navigate complex institutional, licensing, financing, and construction challenges, and in launching the largest urban regeneration project in Europe. He also strengthened LAMDA’s leading activities in the shopping mall and marina sectors, having taken the helm of the Company at the height of the financial crisis.
From 1 January 2027, Mr. Athanassiou will take on an advisory role at Consolidated Lamda Holdings (CLH), with a focus on relations with institutional bodies and government authorities.
Statement by Dr. Spiros Latsis: “Odysseas Athanassiou has played a defining role in shaping LAMDA as we know it today. His leadership spanned some of the most demanding and significant periods in the Company’s history, from the financial crisis to the undertaking and delivery of Ellinikon. We deeply value his contribution and the relationship of trust that has been built over all these years. Our continued collaboration through CLH will draw on his experience and business judgment. We welcome Evi Kostaki and are confident that her fresh perspective and leadership experience will contribute to the next phase of LAMDA’s growth.”
Statement by Mr. Stefanos Kotsoolis, Chairman of the Board of Directors: “On behalf of the Board of Directors, I would like to thank Odysseas Athanassiou for his dedication and leadership contribution over all these years. His role has been instrumental in laying strong foundations for the Company’s future. We are delighted to welcome Evi Kostaki as the new Chief Executive Officer and look forward to working together to further advance the Company’s strategic priorities, building on everything we have achieved to date.”
Statement by Mr. Odysseas Athanassiou: “LAMDA has meant far more to me than the most important chapter of my professional journey. I deeply believed in and shared the vision of Dr. Spiros Latsis, and together with the people of LAMDA, I dedicated myself to shaping the Company’s path and bringing that vision to life. It became a life’s mission. Through successive crises and extraordinarily demanding conditions, we managed to transform the Company and turn into reality a project that for many years was considered nearly impossible. Ellinikon has now moved from promise to delivery. And perhaps this is the most meaningful moment to close one chapter and begin a new one. I deeply value the long-standing relationship of mutual trust and respect I have built with Dr. Spiros 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 prospects remains strong, as reflected in my decision to retain my shareholding in the Company.”
Statement by Ms. Evi Kostaki: “It is a great honour to receive the trust of the Board of Directors and our shareholders, and I am grateful to Odysseas Athanassiou, whose leadership was instrumental in shaping LAMDA as we know it today. LAMDA has a strong base of recurring revenues from its shopping malls and marinas, while Ellinikon — which is transforming Athens — is now moving from the construction phase to the delivery phase, with the first residents expected within the next two years. My priorities are clear: to maintain the Company’s momentum, to deliver on our commitments to our customers and the Greek State, to fulfil our promises to local communities, to continue growing revenues from our shopping malls and marinas, and to maintain the financial discipline that has established investor confidence in LAMDA. I look forward to advancing LAMDA’s strategic vision and to working with an outstanding team of people.”
