By letter dated 4 January 2012, the European Commission nominated Mr Gerassimos Thomas (Director in the Directorate-General for Economic and Financial Affairs of the European Commission) for appointment as Full Member of the Board of Directors of the EIB to succeed Mr Marco Buti who had tendered his resignation.

By letter dated 9 January 2012, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Mr Gerassimos Thomas was taken on 25 January 2012, the date on which the requisite majority of Governors' votes was reached.

The term of office of Mr Gerassimos Thomas will expire in 2013 at the end of the day of the approval by the Board of Governors of the Annual Report, the Balance Sheet and Profit and Loss Account for the 2012 financial year.