New Israel Electric chairman quits, slams political intervention

Dov Baharav Credit: Israel Electric Corp.
Dov Baharav Credit: Israel Electric Corp.

Dov Baharav has stepped down after three weeks over political intervention in new appointments.

Newly appointed Israel Electric Corp. chairman Dov Baharav has announced his resignation even before he assumed his new position. He said, "Less than three weeks ago, at the meeting in which you chose me to serve as company chairman, I promised to bring to the job management capabilities that would contribute to the company's performance and to continue implementing the reform and to add breakthrough changes to the larges government company in Israel."

Baharav harshly criticized the conduct that he found at Israel Electric Corp. "I came prepared to cope with hard work and complex management challenges but to my major regret in the few but intensive weeks that have passed since I was chosen, during which proceeding were conducted to choose a CEO for the company and a procedure to locate a replacement for the secretary to the board of directors. I was exposed to aggressive intervention of political considerations by the board of directors and people in management such as I have not previously seen in the senior positions that I have filled in leading companies in the economy."

Baharav was reportedly unable to get his own candidate chosen as secretary to the board due to intervention by Minister of National Infrastructures, Energy and Water Resources Karine Elharrar.

Baharav added, "To the best of my judgement, this conduct might harm the company and its proper management. With this in mind I have decided to leave immediately the job and the board. I again thank the Minister of Energy and Minister of Finance for the appointment and regret the reality that does not allow me to fulfil it."

Elharrar said, "I received with regret the announcement from Dov Baharav of his resignation from the board of the Israel Electric Corp. With even greater regret I heard the serious evidence of political dealings and pushing aside professional considerations to the margins by some members of the board of directors, conduct that I will not support. I will continue to work with the aim of bringing in professional, proper and the right management for Israel's biggest government company."

Published by Globes, Israel business news - en.globes.co.il - on April 26, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

Dov Baharav Credit: Israel Electric Corp.
Dov Baharav Credit: Israel Electric Corp.
Microsoft campus in Herzliya  credit; Eyal Izhar Microsoft: Exempt Israel from AI-chip export restrictions

Israel is among countries mentioned in a blog post by Microsoft vice chair and president Brad Smith criticizing the restrictions.

Paz gas station credit: Tali Bogdanovsky Gasoline prices in Israel to fall Saturday night

The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will fall on Saturday at midnight March 2, 2025, by NIS 0.08 per liter to NIS 7.23 per liter.

Tel Aviv credit: Shutterstock Tel Aviv master plan sees 600,000 residents by 2035

The Tel Aviv District Planning and Building Committee has approved for deposit the TA/5500 master plan for Tel Aviv-Yafo.

Mizrahi Tefahot Bank  credit: Eyal Izhar Mizrahi Tefahot to pay huge dividend on record 2024 profit

The bank reported net profit of NIS 5.5 billion last year, up 11% from NIS 4.9 billion in 2023.

Sheba, Tel Hashomer Hospital Photo: Tamar Matsafi Israel's Sheba climbs in "Newsweek" world hospital top ten

Last year "Newsweek" ranked Sheba Medical Center in ninth place and previously it was in tenth place.

Cyberattack  credit: Shutterstock Israel second most targeted country for cyberattacks

The report by Radware found that Israel suffered 1,550 cyberattacks in 2024, second only to Ukraine which suffered 2,052 attacks.

BIG Fashion Glilot credit: Dror Marmor Israel's biggest mall opens Thursday

BIG Fashion Glilot strip mall is in Ramat Hasharon's new office park, adjacent to Cinema City Glilot.

Tesla Model Y credit: Shutterstock Can Tesla stage a comeback in Israel in 2025?

After taking Israel by storm four years ago, Tesla has gradually lost market shares to Chinese rivals but this trend could change this year.

Ghost jobs illustration: Tali Bogdanovsky 10% of Israeli tech vacancies are ghost jobs

Ethosia CEO Eyal Solomon says the proportion of "ghost" jobs - vacancies that have been advertised but not filled and continue to appear on the company's website - has jumped dramatically in recent years.

Prime Minister Benjamin Netanyahu and Transport Minister Miri Regev credit: Marc Israel Sellem Jerusalem Post Jerusalem Red Line extension awaits ribbon cutting

Opening the light rail extension has been delayed while a date is found for a ceremony attended by Prime Minister Benjamin Netanyahu and Transport Minister Miri Regev.

Tel Aviv light rail Light rail fares in Israel jump 33.3%

Bus fares will also rise 33.3% after the 2025 budget is passed.

Quantum Machines founders credit: Eyal Izhar Israeli co Quantum Machines raises $170m

Sources say that the company's valuation, which before the latest round was $520 million, has now risen to $670 million.

Pay cuts illustration: Shutterstock Treasury plans pay cuts for doctors, teachers, and civil servants

The move is intended to ensure that the budget savings target of NIS 5 billion shekels in 2025 is achieved, as part of efforts to reduce the state budget deficit.

Shekel credit: Shutterstock Vladirina 32 Shekel weakens after BoI rate call

Poria Financial Planning chairman Or Poria: There is growing uncertainty over the collapse of the hostage deal, and the increasing probability of renewed fighting in the south.

Daniel Aronovitz credit: Joseph Laor Insight Partners: $6b and still investing in Israel

Insight Partners newly appointed Israel partner Daniel Aronovitz tells "Globes" about the US firms plans for Israel and reveals the huge extent of past investment.

Bank of Israel Governor Amir Yaron credit: Eyal Izhar, Tali Bogdansky BoI Governor: We hope for two rate cuts in second half

Bank of Israel Governor Prof. Amir Yaron tells "Globes" he remains concerned about inflation, higher demand than supply, and real estate balloon loans.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018