The board of directors of Bank Hapoalim officially decided today to appoint Zion Kenan as CEO of the bank. The board accepted the recommendation of the search committee it appointed on May 20 to find a successor to Zvi Ziv, who resigned as CEO in March.
The board’s decision today was unanimous. Kenan has been acting CEO for the past few months. Hs earlier nomination as CEO was found to be flawed by the Bank of Israel, which said the matter had not been weighed sufficiently.
Bank Hapoalim will inform Supervisor of Banks Rony Hizkiyahu of its decision and request his consent to the appointment. Kenan will take up the post as soon as that consent is given. The Bank of Israel has 60 days to consider the nomination, but its is believed that Hizkiyahu will give a decision quickly.
Bank Hapoalim chairman Yair Seroussi welcomed the committee’s recommendation and the board’s decision. “In the two months that I have been working at Bank Hapoalim, I have come to know Zion well, and to esteem him, and I am sure that his appointment as CEO is appropriate and right. I have no doubt that Zion as CEO and I as chairman will know how to cooperate closely, to lead the bank to knew heights and successes, for the benefit of the bank, its customers, its investors, and the Israeli economy as a whole.”
Kenan, 54, who most recently served as deputy CEO and as head of the retail banking division, has long been considered Ziv’s successor. He worked his way up to the bank’s top management after starting there as a teller 31 years ago. He is considered an excellent operator, one who knows how to reach his goals, even aggressively. He is the most experienced member of the bank’s current management team.
Published by Globes [online], Israel business news - www.globes.co.il - on August 10, 2009
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