Arik Yogev, CEO of Ayalon Insurance Company, Announced a short time ago to the chairman of the company’s board of directors Dr. Avigdor Kaplan, Because in light of the progress of the transfer of control procedures in the company, he seeks to terminate his position. Yogev clarified that he will remain in the position until a deputy is chosen and an orderly overlap is completed.
Yogev, who has served as Ayalon’s CEO since 2016 under six chairmen, said he was considering ending his term in September this year, along with the previous chairman, Aaron Fogel, Who resigned in September 2021 in order to allow the company’s purchasers to appoint officials on their behalf. However, he then acceded to the estate manager’s request The late Mr. Levy Rahmani Adv. Moran Meiri, And the new chairman of the board, who then took office, Dr. Avigdor Kaplan, Continue in the position and stabilize the company during the transition period.
Today, with further progress in the procedures for transferring control to the company And GlobalTech alignment, As stated, Yogev announced that, upon completion of a six-year consecutive term as CEO, he intends to terminate his position.
Ayalon stated that upon taking office, Yogev was required to stabilize new management and formulate a very comprehensive strategic plan in all aspects: business, operational and technological while assimilating corporate governance and strengthening human resources at all levels of the company and its position in the emerging insurance world. Over the past few years the company has gone through turbulent periods of changes in the composition of shareholders and a change of chairmen and maintaining its stability during these periods has been an important task in itself.
In a letter sent by Arik Yogev to the company’s employees following his decision to retire, he stated, among other things, that: “Ayalon is currently in a leapfrogging position and I have no doubt that together with Ayalon employees and managers, the new owners will be able to navigate to impressive heights. A complex and long-standing team – making details and not headlines. We did not hesitate to take many actions to improve the company’s insurance portfolios in areas we analyzed as problematic and at the same time, we invested in innovation and creating growth engines in health and others. In addition, we have invested heavily in advanced technology and the promotion of digital transformation in the company’s products, customer service and agents and in the operational and marketing activities – in line with changing market needs. And in the indices published by the Capital Market Savings and Insurance Authority. There will also be a very successful Road Show at US insurance centers, all from a perspective and vision towards the future of the industry.
Yogev further emphasized that “not everything has been done and completed. There is of course room for further improvements and changes. But there is no doubt that the infrastructure built in these years puts Ayalon in an excellent starting position and will bear fruit in any way the new controlling shareholders choose in the coming years.”
“At the end of a fascinating six years as CEO of Ayalon, I would like to thank the owners of the company and the estate manager, the various chairmen and directors for their appreciation, support and backing and wish great success to the new owners,” concluded Arik Yogev.
Yogev has been active in the insurance industry for over 40 years during the period serving in many management positions including: Founding CEO of Sagi-Yogev, CEO of Mivtach-Simon, CEO of Migdal Agencies and Chairman of the subsidiaries, Deputy CEO of Migdal and Director of the Customers and Distribution Channels Division and CEO of Psagot Insurance, Pension and Provident.
Ayalon Chairman of the Board, Dr. Avigdor Kaplan, thanked Yogev for his work at the company, for promoting business development, infrastructure and innovation and for his success in ensuring business stability and continuity even during challenging periods, outside and within the company.
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