The new CEO of Cellcom, Daniel Sapir, will receive a cost salary of NIS 4.4 million per year, subject to the approval of the general meeting of shareholders, which will convene on February 28.
Sapir’s terms of employment will consist of three components: a salary of NIS 110,000 per month, an annual grant of ten salaries, depending mainly on Cellcom’s gross business results (the grant can reach NIS 1.1 million per year), and a capital reward of 1.1 million options convertible into shares Over five years. The amount of the capital reward is NIS 1.33 million per year, and a total of NIS 6.65 million over the entire period. Cellcom notes that the capital remuneration of former CEO Avi Gabay was much higher and amounted to NIS 12 million.
In the next three years, it will be possible to terminate his employment as CEO of the company with three months ‘notice. After that, six months’ notice will be required.
Sapir, who until a decade ago held senior positions at Cellcom, served in his last position as CEO of the ICT family, owned by the Livnat family. His terms of employment at this company were slightly inferior, but not by significant gaps.
Despite this, it seems that Sapir has decided to go for the management of Cellcom in light of the great professional challenge, as well as in light of the assessment that the cellular industry is facing the mirror, so the capital reward will be significantly higher than the current salary.
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