Vigodman named Makhteshim CEO

The board of Makhteshim Agan Industries Ltd. (TASE: MAIN) has appointed Erez Vigodman as CEO, replacing Avraham Bigger, who will stay on as executive chairman of the agrochemicals manufacturer. The appointment will come into effect on January 1, 2010.

Bigger has served as both chairman and CEO of Makhteshim Agan for the past three years, during which he restructured the company and stabilized it.

Vigodman resigned as CEO of Strauss Group Ltd. (TASE:STRS) earlier this year. Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) is due to appoint Vigodman as a director for a three-year term at the upcoming general shareholders meeting on June 22. Strauss Israel CEO Gadi Lesin replaced Vigodman as CEO of Strauss Group.

Vigodman was mooted as a possible successor of Ministry of Finance director general Yarom Ariav, who will take leave at year end.

Makhteshim Agan is a unit of IDB Holding Corp. Ltd. (TASE:IDBH), controlled by chairman and CEO Nochi Dankner, held through Koor Industries Ltd. (TASE:KOR). He said, "Avraham Bigger as executive chairman and Erez Vigodman as CEO are a superb team that will know how to work together to lead Makhteshim Agan to further growth."

Makhteshim Agan's share fell 3.3% in early trading to NIS to NIS 22.25

Published by Globes [online], Israel business news - www.globes-online.com - on May 24, 2009

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