Greece’s biggest telecom OTE has named Michael Tsamaz as its chairman and chief executive. It will be effective from Nov. 3.

Greece and Deutsche Telekom, which together own 50% of OTE, agreed on Tsamaz as CEO and chairman of the company.

According to OTE, this selection expresses the common will of the two main shareholders.

Tsamaz, 51, replaces retiring chairman and CEO Panagis Vourloumis, who was widely credited with turning around the state-linked telecommunications operator during his six years as head of the company. Vourloumis, 73, is expected to retire at the end of his term.

Tsamaz has served as head of OTE’s mobile subsidiary Cosmote since September 2007. In the past 10 years, Cosmote has grown to become the leading mobile operator in both Greece and southeast Europe, and has been a leading profit center for OTE, which has seen its dominance in fixed-line telephony gradually eroded by competition.

According to Guido Kerkhoff, DT’s representative on the OTE board, Tsamaz’s considerable international experience and proven business skills have made him one of the leading executives in Greece, as his track record with Cosmote proves beyond doubt. These are exactly the qualifications the company was looking for in finding the right person to head OTE.

Tsamaz joined the OTE group in 2001 serving in various management positions before being appointed as head of Cosmote. He has also worked for Vodafone Group PLC’s Greek subsidiary, and for tobacco conglomerate Philip Morris in Greece and eastern Europe.