I think it's a good move. He's a good coach, who has worked in Greek football and understands how it works and the culture, that is a big plus. He was unfairly sacked as PAO manager IMO and should probably still be at the helm.
He is also being well received by fans (judging off social media) which is a good thing. As we know football in Greece is volatile, so having the fans on side, will help him settle into the role and get the ball rolling.