Following the resignation of Sagi Yogev as CEO of Migdal Insurance coverage, after only a yr within the submit, due to variations of opinion with controlling shareholder Shlomo Eliahu, Yiftah Ron-Tal has now resigned as chairperson of the corporate after eighteen months.
In his letter of resignation, Ron-Tal wrote, “From the time that I took up the submit, and all through the interval, I acted each to stabilize and enhance the work of the board of administrators, and to stabilize and advance the corporate, whereas sustaining strict company governance, in an especially difficult and sophisticated company and enterprise atmosphere. Sadly, the conduct in reference to the corporate’s possession construction and the company governance that derived from it very a lot restricted, and nonetheless restrict, the required company independence of the board and administration, and, because of this, the flexibility to behave to stabilize the corporate and work for its strategic and enterprise development.
“Sadly, the resignation letter of the corporate’s CEO Sagi Yogev of October 31 2022 describes nicely and precisely this problematic scenario.”
Migdal Insurance coverage Firm dad or mum firm Migdal Insurance coverage and Monetary Holdings (TASE: MGDL) mentioned in an announcement, “The corporate denies the claims raised within the letter regarding the firm and Migdal Insurance coverage. The corporate is dedicated to implementing and selling the ideas of correct company governance and acts to advance the objectives of the businesses within the group, together with Migdal Insurance coverage, and to making sure their stability and prosperity.”
Ron-Tal is the sixth chairperson to go away Migdal Inurance since 2014.
Printed by Globes, Israel enterprise information – en.globes.co.il – on November 9, 2022.
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