Delek Israel Fuel Corporation Ltd. (TASE: DLKIS) CEO David Kaminitz has notified the board of directors that he has resigned because of professional differences, according to a notice to the TASE today. The company did not disclose the details of these differences.
Kaminitz was appointed CEO of Delek Israel in June 2009, replacing Eyal Lapidot, who was transferred to head sister company Israel Phoenix Assurance Ltd. (TASE: PHOE1;PHOE5). Kaminitz took over the company in the midst of the gas stations war between Israel's fuel companies, however the biggest headline he has generated to date was his salary of NIS 11.6 million in 2009. This amounts to a monthly salary of NIS 1.3 million for the nine months at the company from the start of the transition period with Lapidot.
Executives at parent company Delek Group Ltd. (TASE: DLEKG), controlled by Yitzhak Tshuva, declined to comment on Kaminitz's resignation, or about a possible replacement.
Tshuva hired Kaminitz after he served two years as CEO at HOT Telecommunication Systems Ltd. (TASE: HOT), in which Delek Group owned a 16% stake at the time.
Delek Israel's share price fell 3.5% today to NIS 130, as part of the general market slump.
Published by Globes [online], Israel business news - www.globes-online.com - on May 16, 2010
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