Sources inform ''Globes'' that Israel Discount Bank's (TASE: DSCT) management headed by chairman Yossi Bachar has notified workers committee chairman Riki Bachar that it will not extend his contract, which expires on March 31, 2014.
Riki Bachar (69) is displeased by the news, as he had expected to keep his job, especially after Discount Bank had already extended his contract once, despite reaching retirement age. The Histadrut (General Federation of Labor in Israel), headed by chairman Ofer Eini, will reportedly intervene to extend Bachar's contract, but no decision has been made.
However, sources at Discount Bank believe that even the Histadrut's intervention will not change the bank's decision, as it is determined to get rid of Riki Bachar when his contract expires.
Discount Bank, its workers committee, and the Histadrut declined to comment on the report.
Published by Globes [online], Israel business news - www.globes-online.com - on October 28, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013