Michalis Panayides named Chair of Cyprus Supermarket Association

The new Chairman of the Cyprus Supermarket Association, Michalis Panayides, brings vast experience in the supermarket sector and a history of active participation in the business events of the country in general to the post.

Being tasked, together with the other members of the new Board of Directors, with representing and promoting the issues of concern to the sector, Panayides’ new position is one of enormous responsibility.

Speaking to InBusinessNews, Panayides outlaid his priorities in the new post.

Panayides indicated that the Association represents and has as members supermarkets of all sizes - from the smallest to the largest, as he specifically stated - with the aim and goal for him as the new Chairman being to strengthen their cooperation to solve common problems and promote the joint aspirations of the sector.

Stressing in this regard that the goal is not only to address the problems of businesses in the sector, but also of consumers, Panayides underlined that achieving this goal requires unity and a common path in this direction.

Outlining the conditions in the food retail sector, Panayides pointed out that although the sector is going through a period of growth, at the same time - as he emphasised - businesses in the sector are being faced with many increased costs, such as labour and energy, which limit their profitability.

In this context, Michalis Panayides categorically rejected the misconception held by many that supermarkets make excessive profits and that they do not care enough about consumers.

"The primary concern and priority," he pointed out, "was and remains the consumer," noting intense competition exists among supermarkets to provide better prices and offers. This is something that at the end of the day, as he explained, on the one hand works to the benefit of consumers and on the other hand, due to the reduction in prices, limits the profitability of businesses.

The Cyprus Supermarket Association, with a presence of over 25 years, is perhaps the only body that represents almost all the supermarkets in Cyprus, having large chains, small and medium-sized stores, as well as neighborhood stores among its members.

It is indicative that the members of Association as a whole employ over 10,000 workers and their turnover reaches €300 million. At the same time, it is an autonomous professional association as it is not under the umbrella of any other professional body or organisation.

The Cyprus Supermarket Association actively participates with interventions and proposals in all issues that arise in the sector and the main partner in discussing the various issues that concern the industry with competent government bodies and other organisations.

As can be seen from the above, the position of Association Chairman entails enormous responsibility, with Michalis Panayides' long experience in the industry constituting - among other things - an unquestionable guarantee for a successful term, both for himself as Chairman and for the Board of Directors as a whole.

• The who is who of Michalis Panayides

Panayides, who it is worth noting had held the position of Vice Chairman of the Association for more than the past three years, is the Managing Director of Sklavenitis Cyprus, a company that employs more than 2,500 people and operates 27 stores throughout Cyprus, while nine more stores have joined its network in recent months, following the acquisition of Papantoniou Supermarkets.

He has more than 26 years of experience in the supermarket industry and, more specifically, he is an experienced manager who has collaborated with local chains (Chris Cash & Carry), large companies such as Sklavenitis and multinationals such as Carrefour.

Panayides is active in various business associations, holding positions such as Chairman - currently - of the Board of Directors of the Cyprus Supermarket Association and being a member of the Board of Directors of Green Dot Cyprus.

At the same time, he is also a Certified vocational trainer of the Human Resources Development Authority (HRDA).

(Source: InBusinessNews)