Yossi Rosen to be Israel Corp CEO, ICL Chair

Mashav’s outgoing general manager Yossi Rosen this week notified Israel Corporation chair Erwin Eisenberg that he has decided to accept an offered appointment as general manager of Israel Corporation. Rosen recently announced that he will resign from Mashav toward the end of 1998. Based on his agreement with Eisenberg, however, Rosen intends to bring forward his resignation and join Israel Corporation toward the end of September or the beginning of October.

Sources associated with Israel Corporation stated that Rosen’s appointment is intended to deepen Israel Corporation’s involvement in its Israeli operations. This is because Eisenberg spends most of his time out of Israel, dealing primarily with the activity of UD, the Eisenberg group, outside Israel. It was accordingly agreed that Rosen will replace Eisenberg as chairman of Israel Chemicals, and will also become actively involved in all the group’s companies.

As first reported by "Globes", the job of CEO Israel Corporation was offered to Rosen in February 1998, but he declined due to his commitment to Mashav. When Mashav’s principal holdings were sold, and it became a holding company with relatively little activity and Rosen announced his resignation. Eisenberg thereupon approached him once more, and negotiations lasted less than one month.

Related sources also estimate that since Israel Corporation deputy chair Amos Mar Chaim has been convicted of tax offences and agreed to a plea bargain, he will be constrained to reduce his activity in Israel Corporation and may in fact resign after some time. Eisenberg therefore hastened to reach agreement with Rosen, in light of Mar Chaim’s considerable involvement in all of the group’s activities.

Published by Israel's Business Arena August 27, 1998