Migdal’s board of directors ousts Chairman Motti Rosen


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Rosen was at odds with Migdal’s CEO, Ran Oz, and the two were unable to work together. Migdal Insurance Company chairman Motti Rosen was unable to reach an agreement with the board of directors, who deemed his financial demands exaggerated, and thus was fired instead of being allowed to resign. Rosen was at odds with Migdal’s CEO, Ran Oz, and the two were unable to work together. The board supported Oz instead of Rosen. A statement from the Migdal Board of Directors said: “Due to the differences and differences that cannot be bridged between the CEO of Migdal and the Chairman of the Board of Directors of Migdal about the manner in which matters should be managed, the Board will work to end the term of the President of Migdal in his position. Job.” Related materials Migdal defuses the confrontation with the regulator The regulator forces Eliyahu to leave the board of directors of Migdal The board of directors of Migdal suspends the removal of Rosen as the CEO of the parent company Migdal Insurance and Financial Holding Ltd. (TASE: MGDL) and although the board of directors is not He has the authority to remove him from this job, he will likely be asked to step down. Rosen only took over as chairman of Migdal Corporation on January 3, replacing Nir Gilad, who was also forced to step down after disagreements with the parent company’s board of directors. Rosen reportedly wanted a compensation package of 5-6 million shekels, after he had already received one million shekels in compensation due to the delay in his appointment. Posted by Globes, Israel business news – en.globes.co.il – on March 11, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021 Moti Rosen


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