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Monday, July 16, 2018

Maritime Logistics Professional

Posted by September 22, 2014

Israel Corp CEO May Depart as Firm Reorganizes

Conglomerate Israel Corp said on Monday that as part of it plans for a reorganisation, it is possible that Nir Gilad will step down as chief executive officer.

"No decision has been taken on the matter," the company said in a statement without providing provide further details.

Last year Israel Corp said it was planning to spin off some of its less profitable assets into a new listed company in a bid to boost the value of its core businesses and attract a broader range of investors.

Under the plan, Israel Corp would continue to hold two of its most lucrative and stable companies - speciality chemicals maker Israel Chemicals and Oil Refineries, Israel's biggest refinery.

That would mean divesting itself of a bundle of assets analysts view less positively.

 

Reporting by Tova Cohen

Israel Corp.IsraelTova Cohen