The employees of Bank Leumi (TASE: LUMI) support president and CEO Galia Maor in her bid for the chairmanship of the bank. Bank Leumi workers committee chairwoman Miri Rubino last night informed Minister of Finance Yuval Steinitz that she would not permit a political appointee at the bank.
"If such a thing happens, the bank won't have even one day of quiet. What was forbidden at the Israel Small and Medium Enterprises Authority and the Derech Tzleha non-profit association will not pass at Bank Leumi. We won't let the Israeli government appoint someone as chairman or CEO who is good for the politicians, but bad for Bank Leumi and the economy," wrote Rubino. With this letter, the bank's workers committee supports Maor for the chairmanship of the bank.
Rubino warned Steinitz that he was acting out of partisan interests with the intention of making a political appointment on behalf of Prime Minister Benjamin Netanyahu.
Rubino added, "Instead of the government acting in accordance with the principles of transparency and the free market, which the prime minister and you preach, and letting the shareholders elect a chairman and CEO on the basis of professional considerations, you've turned the appointment into a heap of intrigue, narrow interests, and political appointments. Instead of maintaining non-interference, you're acting as someone who considers the bank as a place for jobs for the prime minister's political associates."
Published by Globes [online], Israel business news - www.globes-online.com - on January 31, 2010
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