Stella Handler to resign from Bezeq

Stella Handler  photo: PR/Yanai Yehiel

Bezeq's board decided yesterday to replace Handler as the company's CEO.

The Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) board of directors yesterday discussed the further employment of CEO Stella Handler, and agreed with her that she would leave the company, sources inform "Globes." Handler will continue working until July 1, and then resign.

Bezeq VP business division Kobi Paz is currently standing in for Handler.

"After completing five years as CEO of Bezeq and in anticipation of the change in ownership of the company, and also in the light of the investigations and the circumstances that have arisen, I have decided to resign from my position. This is the right thing to do both from my personal point of view and from the point of view of Bezeq," Handler said in a statement.

Stella Handler is among those under investigation by the Israel Securities Authority and the Israel Police in connection with the deal whereby Bezeq bought the shares of Eurocom in satellite broadcaster Yes and suspicions of impropriety in the company's dealings with the Ministry of Communications.  

The first substantial decision that Handler made on taking up her post was to accelerate the deployment of fiber optic infrastructure, out of understanding of the long-term needs of Bezeq and of the Israeli economy in general. Bezeq currently reaches 1.6 million households with fiber optic cable, and the company intends to launch the service throughout the country, including in the periphery.

Another important decision was to continue to streamline the company and to strengthen its standing in a competitive market, through implementing advanced digital solutions. Handler also expedited the development of innovative services that created additional sources of revenue that by now amount to hundreds of millions of shekels annually.

These investments, together with the success of the wholesale market reform, increased Bezeq's market share in telecommunications infrastructures, and made possible greater competition in television and Internet.

Acting Bezeq chairman David Granot said, "During the time that I have served as acting chairman of the company, I have learned to appreciate Stella Handler's excellent work at Bezeq and her deep commitment to the success of the company. Stella managed to steer Bezeq towards the development of new areas of activity, while working in a challenging competitive environment within difficult restrictions."

Published by Globes [online], Israel business news - www.globes-online.com - on March 19, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Published by Globes [online], Israel Business News - www.globes-online.com - on March 19, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Stella Handler  photo: PR/Yanai Yehiel
Stella Handler photo: PR/Yanai Yehiel
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