Yair Seroussi steps down at the end of December following his failure to inform the Bank of Israel about a sexual assault complaint against former CEO Zion Kenan.
Bank Hapoalim (TASE: POLI) chairman Yair Seroussi is resigning, the bank notified the Tel Aviv Stock Exchange (TASE) today. The announcement attributed Seroussi's departure, "to recent reports and events at the bank." Yesterday, Seroussi met Supervisor of Banks Hedva Ber
Two days ago, "Globes" revealed that Seroussi would be leaving the bank before his contract expired in June 2017 due to the Kenan affair. Seroussi's early exit comes following a complaint by a former employee that she was sexually assaulted 10 years ago by former CEO Zion Kenan. Seroussi failed to report the matter to the Bank of Israel and board of directors and together with the legal advisor appointed emeritus Judge Steve Adler to act as an arbitrator and investigate the charge. He found that there was no harassment but recommended an enlarged compensation payment for the woman.
Seroussi, 61, said, "after seven and a half very successful years as chairman of Bank Hapoalim, I announced today that I am ending my term of office at the end of the year. I came to the bank following a deep crisis in finance, management and values. I leave a healthy, stable, strong and profitable organization after doubling equity and I am very proud of that. I leave when the share price is at a record and shareholders returns since I came have been 132%, by far the highest in the Israeli banking system."
Published by Globes [online], Israel business news - www.globes-online.com - on November 29, 2016
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Yair Seroussi Photo: Sivan Faraj