| Investing.com News |
A makeover at the top of the Tower Group? According to media reports, the board of directors of Migdal Insurance and Finance Holdings (TASE :), which owns the Migdal insurance company, is expected to convene on Tuesday to approve the appointment of retired Supreme Court Justice Hanan Meltzer to the position of chairman Shlomo Eliyahu.
Eliyahu, 86, who owns 64.3% of Migdal through Eliyahu IPOs, is expected to continue to serve as a director at Migdal Holdings. Meltzer, who served as Vice President of the Supreme Court Esther Hayut from 2017-2021, was appointed after his retirement from the judiciary last year to the position of President of the Press Council.
Earlier this month, the board of directors of Migdal Holdings, headed by Eliyahu, decided to appoint Yossi Ben Baruch as the company’s CEO, and when he is appointed to the position, he will leave his current position as CFO of the subsidiary Migdal Insurance. Ben Baruch is expected to take over as CEO on July 1, and by then the board will find a new CFO. Ben Baruch replaced Yiftach Ron Tal, who serves as chairman of the subsidiary, Migdal Insurance, as CEO.
About three months ago, Sagi Yogev was appointed CEO of Migdal Insurance, about six months after retiring as director of Harel’s General Insurance Division, a subsidiary of the Harel Investments Group (TASE :).
Migdal today announced the first appointment on behalf of the new CEO Sagi: Anat Atlas (pictured above) joins the company as Director of the Business Development, Data and Digital Division. Atlas will replace Eran Zimmerman, who has served in the position since October 2019. Zimmerman recently announced the CEO Yogev for wanting to end his role.
Until recently, Atlas served as Senior Vice President, Director of Business Development, Projects and Analysis at Harel’s General Insurance Division. Prior to that, Atlas served in a variety of positions in the General Insurance and Actuarial Divisions at Harel, where she has worked since 2005.
Upon Tower’s announcement of its appointment, Atlas said:
“I am happy to join Insurance Tower in an interesting and challenging period that requires a long-term vision of the opportunities and challenges for the company and the insurance industry in general. I thank the company’s board of directors and CEO Sagi Yogev for trusting me and looking forward to our common path.”
Migdal Holdings’ share rose about 3.6% on Monday on the Tel Aviv Stock Exchange, reflecting a market value of NIS 5.82 billion for a company controlled by Eliyahu.
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