Former Bank of Israel Supervisor of Banks Roni Hizkiyahu, who has been appointed to a senior management position at Delek Group Ltd. (TASE:DLEKG), has delayed joining the group in order to verify if he needs to wait until after a "cooling-off period."
Just the day before yesterday, Delek confirmed "Globes" report that Hizkiyahu would be recruited as a senior manager in charge of energy and financial investments. He was scheduled to start on June 15, however Delek reported to the stock exchange that Hizkiyahu would not be starting his new position on this date, since he "needs to find out what type of cooling-off period is required of him."
The fact that this investigation is being carried out now, after the appointment, is surprising, and Delek's report does not specify when Hizkiyahu will join the group. Despite Delek's report, "Globes" has been informed that Hizkiyahu has already made some preliminary inquiries in order to determine whether a cooling-off period will be prevent him from serving in a senior position at Delek. Apparently, this will not be an obstacle, since Hizkiyahu did not interact with Israel Phoenix Assurance Ltd. (TASE:PHOE1; PHOE5), Delek's insurance company, in his position at the Bank of Israel,.
Hizkiyahu is expected to handle Delek's energy operations, including oil and gas exploration, and the drilling of wells at Tamar and Leviathan, as well as the transportation network, future gas exports from fields that have been discovered, and working with regulators, the legislature, and the Ministry of Finance and the Ministry of National Infrastructures. As an experienced banker specializing in project financing, Hizkiyahu is expected to take charge of securing financial backing for energy projects.
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