Zvi Greengold served as Oil Refineries general manager for a year. It is estimated that deputy director general Yashar Ben-Mordechai will be appointed general manager.
In a surprise move, Oil Refineries general manager Zvi Greengold quit his post today, having held the post for only 15 months. There was tension between Greengold and Oil Refineries chairman Ovadia Eli in recent months.
According to company officials, "The lack of chemistry between Ovadia Eli and Greengold made Greengold's departure necessary, not to mention the fact that Eli was not always satisfied with Greengold's performance". Greengold is the second Oil Refineries general manager in the last two years to have left office before his term was up.
Since Ovadia Eli was appointed Oil Refineries chairman three years ago, he has been considered the strongest executive in the company. Eli is credited with Oil Refineries' streamlining and going into profit, notably in 1999, following years of heavy losses.
Oil Refineries is facing a critical period in its history, involving splitting the company into two separate entities (with the Haifa Oil Refinery owned by the State and the Ashdod Oil Refinery owned by the Israel Corporation). Oil Refineries' concession will expire in 2003, and it may be privatized in the coming years.
Published by Israel's Business Arena on 9 April, 2000