The Israeli Forum of Chief Financial Officers was founded in September, 1997. The Forum's main goals are to assist CFOs of Israel's leading companies in networking with their peers, to exert influence in Israel on issues relevant to CFOs and to bring Forum members up-to-date on the most recent developments in the field of financial management.
The Forum has about 500 members, divided into the following categories:
· Council members - CFOs of companies with minimum annual revenues of $200 million. Most CFOs of Israeli companies meeting this criterion are already Council members.
· Forum members - CFOs of companies with minimum annual revenues of $40 million, as well as the deputies of Council members and CFOs of listed companies.
· Rapid growth membership - CFOs of young, fast growing technology companies.
· Honorary members - Leaders of the Israeli economy, academia and media.
· Special status members - Managers of firms that provide financial services, consulting or other products or services for financial executives.
CFO Forum Committees
Steering Committee
The committee consists of members representing leading Israeli companies:
Eli Assraf - COO, Makhteshim Agan; Avi Ben Assayag - VP & CFO, Strauss-Elite; Gonen Biber - CFO, Clal Industries and Head of Finance, IDB; Refael Danieli - VP & CFO, ZIM Integrated Shipping Services; Eyal Desheh - CFO, Check Point Software Technologies; Joseph Dvir - CFO, The Israel Electric Corp.; Ytzhak Edelman - CFO, Ness Technologies; Ron Eilon - VP & CFO, Bezeq The Israel Telecommunication Corp.; Alan Gelman - CFO, Partner Communications; Lauri A. Hanover - CFO, Lumenis; Oren Lieder - Executive VP & CFO, Discount Investment Corporation; Igal Nissim - CFO, Verint Systems; Avisar Paz - CFO, Israel Corp.; Tal Raz - CFO, Cellcom Israel; Dan S. Suesskind - CFO, Teva Pharmaceutical Industries; Yuval Yanai - CFO, Given Imaging.
Antitrust Committee
The Antitrust Committee shapes the Forum's activities in the area of restrictive trade practices while cultivating ties with the Director of the Antitrust Authority. It conducts seminars and receives ongoing information relating to legislative bills and lobbying activities. The committee is asked to participate in meetings of the Knesset Economics Committee. Co-Chairmen: Yoav Nachshon - VP Finance & CFO, Coca Cola Israel; Avi Ben Assayag - VP & CFO, Strauss-Elite.
Encouragement of Capital Investments Committee
This committee relates to the Law for the Encouragement of Capital Investments. It maintains ongoing ties with the Investment Center at the Ministry of Industry and Trade; handles routine procedures vis-a-vis the Investment Center; and promotes activity aimed at formulating conceptual changes in the Law's framework. Chairman: Eitan Abramovitch - CFO, RAD Data Communications.
Financial Reporting Committee
The Financial Reporting Committee deals with new corporate reporting requirements by the Israeli SEC, Israel Accounting Standards Board and the Government of Israel. Chairperson: Regina Ungar - VP & CFO, SFK; Vice Chairman: Ronnen Yitzhak - CFO, Formula Vision Technologies.
Finance Committee
The goal of the Finance Committee is to improve relationships among CFO Forum companies, to assist in developing relationships with banks and financial bodies overseas, and to educate CFOs regarding financial programs and the financial banking system in Israel. Chairman: Nissim Malki - VP & CFO, El Al Israel Airlines.
· Banking Finance Subcommittee: Chairman: Dor Kleiman - CFO, David Lubinsky
· Non-Banking Finance Subcommittee: Chairman: Avi Feldman - CFO, Automotive Equipment
· Advocacy Subcommittee: Chairman: Oron Costtrici
Investor Relations Committee
The Investor Relations Committee assists Israeli companies listed on overseas stock exchanges in formulating and implementing effective investor relations programs and promotes investor relations activities within Israel for companies listed on the TASE. Chairman: Dan S. Suesskind - CFO, Teva Pharmaceutical Industries.
IT & e-Commerce Committee
This committee encourages Israeli companies to improve their competitive position in global markets by promoting IT and e-Commerce. Chairman: Benny Hoenig - Manager of Finance and Business Operations, IBM.
National Tax Policy Committee
The National Tax Policy Committee acts as an advocate for Israeli firms before the tax authorities. Chairman: Shaul Glicksberg - CFO, Africa-Israel Investments
• Income Tax Subcommittee: Chairman: Kobi Sharon - CFO, Lundbeck Israel
• International Tax Subcommittee
• VAT Subcommittee: Chairman: Ilan Kliger - CFO, Alon Israel Oil Co.
R&D Finance Committee
This committee assists CFOs of technology companies regarding relations with Israel's Office of the Chief Scientist and seeks to improve access to European Community R&D budgets. Chairman: Igal Nissim - CFO, Verint Systems Inc.; Vice Chairman: Aviv Boim - CFO, Orckit Communications.
Risk Management & Financial Instruments Committee
This committee advises Forum members of updates and innovations associated with financial instruments in Israel and abroad; examines the effectiveness of existing instruments in the market; and presents CFO needs to providers of financial services. Chairman: Oren Lieder - Executive Vice President & CFO, Discount Investment Corporation.
CFO Forum’s Special Groups
The Forum Council
The Forum Council is comprised of CFOs from firms with minimum annual revenue of $200 million.
Companies Traded Abroad
This group identifies the unique challenges faced by Israeli companies traded overseas and finds appropriate solutions through group discussion. Chairman: Eyal Desheh - CFO, Check Point Software Technologies.
CFOs of Foreign Global companies
Chairman: Aviad Avni - CFO, Intel Israel
Non-Profit Organization Committee
Chairman: Noaz Bar Nir - CFO, Clalit Health Services
President: Ms. Noga Kainan
Address: 4 Kaufman St., Tel Aviv 68012 Israel
Telephone: 972-3-510-4555
Fax: 972-3-517-0918
Email: mr@cfo-forum.org
Web site: www.cfo-forum.org