www.bethelfinance.com
Galia Maor (69) is due to leave her post as president and CEO of Bank Leumi (TASE: LUMI) on May 1, after almost 17 years in the job. Until then, she intends to train her successor.
On February 27, Bank Leumi will hold a major event in London to mark its 110th anniversary. The event, to which many of the bank's major customers will be invited, will essentially be Maor's farewell party. A month later, on March 29, Maor will present her last annual financial report by the bank, and will begin a period of overlap her successor shortly afterwards.
Former Supervisor of Banks Roni Hizkiyahu and Bank Leumi deputy CEO Rakefet Russak-Aminach, who has Maor's support, are running for the CEO's job. Bank Leumi chairman David Brodet will reportedly have the deciding vote in determining the identity of the new CEO.
The Bank Leumi CEO search committee, headed by Brodet himself, is due to complete its discussions by Friday, and to submit at least two candidates to the board of directors; Russak-Aminach and Hizkiyahu will be among them. The board will meet twice next week on the matter: on Sunday, February 12 and on Tuesday, February 14. The 14 members of the board (since the resignation Psagot Investment House Ltd. chairman Ehud Shapiro, for whom no successor has yet been named) will discuss the candidates and vote which of them will become the next CEO.
Brodet wants to complete the selection process by the end of next week. The winner will have to under a fit and proper review by the Bank of Israel, which must be completed within 60 days under its procedures, which means that the approval will be given by April 15 at the latest.
The new CEO's first task will be to fill two key positions at the bank: the head of the corporate division, and the deputy CEO. Russak-Aminach currently holds both jobs. If she is not chosen as CEO, she will leave the bank, and if she is elected, they will thereby become vacant.
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