8chan/8kun QResearch Posts (3)
#7563544 at 2019-12-19 21:26:47 (UTC+1)
Q Research General #9675: Swamp Thang! Edition
>>7563500
>https://en.globes.co.il/en/article-cellcom-ceo-Nir-Sztern-set-to-become-paz-ceo-1001311632
Cellcom CEO Nir Sztern set to become Paz CEO
Sztern is slated to replace Yona Fogel, who resigned following disagreements with Paz chairman Avraham Bigger.
#7563500 at 2019-12-19 21:23:15 (UTC+1)
Q Research General #9675: Swamp Thang! Edition
>>7563419
>CEO of Cellcom Israel's largest cellular provider resigns
Cellcom loss widens
Cellcom's share price plunged 6% on the news. The companies involved made no official response on the matter.
It is easy to understand Sztern's move from Cellcom, which has suffered from a consistent downtrend that has picked up speed in the past year and is burdened by substantial debt. Cellcom recently embarked on an extensive recovery plan, including a NIS 150 million cut in annual expenses by substantially lowering spending and payments to suppliers and cutting down on personnel; reduction of investments to NIS 450-500 million a year; buying back NIS 150 million of its bonds; and other measures.
Following publication of the plan, rumors circulated in the market of tension between controlling shareholder Eduardo Elsztain (the controlling shareholder in the IDF-Discount Investment group, which holds 44% of Cellcom's shares) and Cellcom chairman Ami Erel. It is believed that Erel will probably not continue much longer in his position.
https://en.globes.co.il/en/article-cellcom-ceo-Nir-Sztern-set-to-become-paz-ceo-1001311632
#7563411 at 2019-12-19 21:14:42 (UTC+1)
Q Research General #9675: Swamp Thang! Edition
>>7563405
>https://www.prnewswire.com/news-releases/cellcom-israel-ltd-announces-ceo-resignation-and-enhanced-role-for-chairman-300977437.html
<CEO of Cellcom Israel's largest cellular provider resigns
Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today that Mr. Nir Sztern, the Company's CEO, informed the Board of Directors of his intention to resign as CEO in the near term at a date yet to be determined, and the Board of Directors nominated a committee to oversee the process for locating and selecting a new CEO.
The Board of Directors reiterated its continued commitment to the Company's previously announced restructuring plan and announced that the Company's Chairman of the Board, Mr. Ami Erel, will actively manage the CEO transition, as well as provide executive oversight of the execution of the Company's operations and its restructuring plan during the transition period.