His chances of being approved by the responsible ministers are poor.
The board of directors of Israel Electric Corporation (IEC) last Thursday chose Uri Bin Nun as the next CEO of the company by a vote of 7:5. IEC chairman Shlomo Rothman voted against.
The IEC board thereby adopted the recommendation of the search committee, which chose Bin Nun by a vote of 3:1, Rothman voting against. This was the first time that a majority against Rothman emerged on the board.
The directors felt that Rothman was acting under pressure, and had given in to acting Minister of Finance Ehud Olmert and Minister of National Infrastructures Benjamin Ben-Eliezer. The two ministers want to choose the new CEO themselves, and Bin Nun’s appointment requires their approval.
The IEC board’s vote does not decide the matter. There is almost no chance that Olmert and Ben-Eliezer will approve the appointment. Each of them has different ideas, such as the appointment of former Israel Defense Forces Deputy Chief of Staff Maj.-Gen. (Res.) Gabi Ashkenazi, to whom Prime Minister Ariel Sharon promised the appointment. Impending elections are also likely to affect their decision.
Published by Globes [online] - www.globes.co.il - on October 30, 2005