"There's something absurd here. An odd situation has been created to automatically extend the terms of four Bank Leumi (TASE: LUMI) directors who presumably would not have extended their terms. I really hope that this isn't an attempt to block the appointment of David Klein as a director," Prof. Amir Barnea told "Globes" earlier this week.
Barnea added, "The former Bank of Israel governor would enhance the board. It's unbelievable that Klein, a former Bank of Israel governor and a senior and well-known figure in the market, irrespective of the matter of Shlomo Eliahu, was not recommended as a director. It looks like they're blocking him."
By submitting the candidacy of Bank Leumi president and CEO Galia Maor as chairwoman of the bank, it is clear that the bank will now begin a search for a new CEO, at the same time as the new chairman takes up his, or her, post. Barnea said, "On the basis of my knowledge about Bank Leumi, it's very important that Zeev Nahari become its CEO. There is no one in the banking system with his knowledge of the bank. He's the natural replacement."
Nahari, 66, is Bank Leumi senior deputy CEO and the bank's head of finance, accounting and capital markets. He is the second ranking member of the bank's board of management.
Published by Globes [online], Israel business news - www.globes-online.com - on February 3, 2010
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