Bezeq Int'l execs refusing to repay bonuses

Bezeq

The executives who were mistakenly paid bonuses due to an accounting error will fight the matter in the courts if necessary.

Former senior executives at Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) unit Bezeq International are refusing to return of millions of shekels in bonuses that they received and they intend embarking on a legal battle on the matter. Sources inform "Globes" that the former executives have joined together and hired a lawyer to act on their behalf should the matter come to court.

Last week it was reported that former Bezeq International executives would be asked to repay millions of shekels in bonuses due to accounting irregularities, which led to a write-off of NIS 300 million in Bezeq International's financial statements. The error affected the company's stated profit, and hence the bonuses payable to its senior managers. Former CEO Moti Elmaliach will be asked to repay NIS 1.2 million.

Published by Globes, Israel business news - en.globes.co.il - on April 7, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

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