Changes in Xryma Plc Board as Independent Directors Resign Amid Governance Shift

Director Resignations at Xryma Plc

On October 2, 2026, Xryma Plc, a regulated banktech group specializing in cross-border open banking and international transactional banking, announced the resignations of two key members from its Board of Directors (BOD). The departures of Mr. Christakis Taoushanis and Mr. Adonis Pegasiou took effect on September 30, 2026, marking a significant shift in the company's governance structure.

Christakis Taoushanis: A Decade of Leadership

Christakis (Takis) Taoushanis has been influential in Xryma Plc's trajectory for nearly ten years. He initially joined the board when the company first obtained its regulatory authorization as an Electronic Money Institution from the Central Bank of Cyprus (CBC). During his tenure, Taoushanis chaired the board through a demerger process and seven years of continuous profit growth. Significant achievements under his leadership include preparations for a listing on Euronext Paris and participation in the European Central Bank’s T2 RTGS system, which allowed Xryma to connect directly with the Bank of England.

However, under the governance policies set forth by the CBC, any director who has served for more than ten years can no longer be deemed independent. Recognizing this, Taoushanis voluntarily stepped down, ensuring adherence to these norms and reflecting a commitment to corporate governance standards.

Mr. Nikogiannis Karantzis, Group Managing Director and CEO of Xryma Plc, praised Taoushanis for his leadership and mentorship: "Takis is an experienced banker, well-regarded in the industry, and will certainly be missed by both the directors and staff. I thank him for his vast contributions to the company and wish him all the best in his future endeavors."

Adonis Pegasiou: Prioritizing Professional Commitments

In addition to Taoushanis, Adonis Pegasiou resigned from the board after serving for more than four years. Appointed as an independent non-executive director on June 17, 2022, Pegasiou has also been balancing his full-time role as Academic Director at the European Institute of Management and Finance (EIMF). As the company's operations become increasingly complex, Pegasiou acknowledged that he could not allocate sufficient time to fulfill his board responsibilities adequately, leading to his decision to step down.

Karatzis expressed his gratitude towards Pegasiou as well, highlighting the value of his expertise in governance, risk, and compliance. He stated, "I would like to thank Adonis for his diligent contribution to the board and its committees. We respect his decision to prioritize his responsibilities at EIMF, and we wish him every success."

Looking Ahead for Xryma Plc

With these changes, Xryma Plc is poised for a new chapter. As it continues to strengthen its position in the banktech industry, the company emphasizes the importance of adhering to governance practices that foster transparency and accountability.

Situated in Cyprus and operational in multiple jurisdictions, including Lithuania and the UK, Xryma Plc stands as one of the early non-bank direct participants in the Eurosystem's T2 settlement system—settling transactions in central bank money. The management team remains focused on upholding its commitment to effective governance as it navigates the evolving landscape of financial services.

As the company moves forward without these key individuals, it is critical to watch how the changes will impact Xryma Plc's strategic direction and governance practices. The future of technology-driven financial services hangs in a delicate balance, and institutions like Xryma Plc play a pivotal role in shaping the industry's evolution.