Elovitch steps down temporarily as Bezeq chairman

David Granot Photo: Tamar Matsafi

He will be replaced by David Granot for the duration of the Israel Securities Authority investigation.

David Granot has been appointed acting chairman of Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) replacing Shaul Elovitch who is being investigated by the Israel Securities Authority.

Granot, a former CEO of First International Bank of Israel (TASE: FTIN) is an independent director and his appointment creates an atmosphere of neutrality with all the other members of the board of directors being seen as close to Elovitch.

Bezeq's board of directors is undergoing a tough time with the most difficult questions being asked about the quality of its work and whose interests they were promoting.

Presumably, in light of the appointment, Elovitch will not be in a position to resume the chairmanship of Bezeq for some time and only when the dust has settled after the ISA investigation. Granot is the only person on the Bezeq board of directors not involved in the Bezeq-Yes merger.

The ISA has barred Elovitch from entering Bezeq's offices for the next month. Elovitch insists that he is innocent of any wrongdoing and that the charges cagainst him would be proved to be completely groundless.

Published by Globes [online], Israel business news - www.globes-online.com - on June 28, 2017

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

David Granot Photo: Tamar Matsafi
David Granot Photo: Tamar Matsafi
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