The IEC board of directors is expected to convene today (Sunday) to appoint a deputy CEO for the company. Selection of a deputy is required after an agreement has been reached between the Minister of Energy, Karin Elharar, and the Director of the Companies Authority The new one, Michal Rosenbaum, to suspend the process of appointing the designated CEO, Meir Spiegler, until the allegations made by the resigning chairman of the Electric Company, Dov Bahrav, are examined.
Rosenbaum today sent a letter to the members of the board, ahead of the board meeting. “These days, the Israel Electric Corporation, one of the most significant companies in Israel, is undergoing a shake-up that could damage its critical function in ensuring energy continuity for the Israeli economy,” Rosenbaum opened her letter to directors, entitled “Our shared responsibility for stabilizing the company.”
However, despite Rosenbaum’s letter, it is not at all clear what will change in the board’s decision, which may reappoint Belmes to the temporary post. Belmes, who is the company’s VP of the company and also served as acting CEO of the retiring CEO, Ofer Bloch, ran for the position of permanent CEO and reached the final stage of the search committee, but Spiegler as mentioned won the position, while enjoying behind-the-scenes support of Finance Minister Avigdor Lieberman.
The rabbi resigned last week, throwing heavy accusations at the top of the company, including the process of electing the CEO. “For the aggressive involvement of political considerations among members of the board of directors and members of the company’s management, I have not seen her in any of the senior positions I have held in leading companies in the economy,” the rabbi wrote.
In a letter to the directors, Rosenbaum wrote that she would examine the allegations (of Bahav – Ed) in relation to the appointment of the company’s CEO, thoroughly and in depth, among other things, as part of an opinion to the Appointments Review Committee. Of Mr. Bahrav, directly with Mr. Bahrav himself, as well as with other factors in society. “
Indeed, Rosenbaum and the rabbi are scheduled to meet tomorrow (Monday) to discuss his allegations regarding the appointment of the CEO and the conduct of the company’s top executives. Expedite the meeting, in order to find out exactly what is behind his unspecified allegations in the letter of resignation.