El Al CEO quits

David Maimon Photo: Sivan Faraj

Aviation industry sources attributed David Maimon's resignation to the company's poor labor relations.

El Al Israel Airlines Ltd. (TASE: ELAL) CEO David Maimon has announced his resignation, the company reported to the Tel Aviv Stock Exchange (TASE). Aviation industry sources told "Globes" that Maimon's resignation was expected, in view of the company's poor labor relations. El Al's share has lost half its value over the past three months.

In his press release, Maimon said, "I was privileged to be part of a special and unusual organization with enormous importance for Israel and the entire world. I want to thank you, the members of the board of directors, for your constant support during my term as CEO. Thanks to close and professional cooperation with you, we have been privileged to lead El Al to worthy achievements, and to handle the challenges facing it.

"I want to thank you for enabling me to realize the vision and business plan I presented when I became CEO, which included buying new planes, expanding the network of routes, launching the Fly Card credit card, and expanding foreign aviation activity (including ground services), with an emphasis on streamlining."

Published by Globes [online], Israel Business News - www.globes-online.com - on November 7, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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David Maimon Photo: Sivan Faraj
David Maimon Photo: Sivan Faraj
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