Oded Eran appointed Hapoalim chairman

Oded Eran Photo: Eyal Yizhar

Eran replaces Yair Seroussi who 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.

Adv. Oded Eran, 61, has been officially appointed chairman of Bank Hapoalim (TASE: POLI). The imminent appointment was first revealed by "Globes" earlier this week. Eran replaces Yair Seroussi who steps down at the end of December, six months before his contract expires in June 2017, following his failure to inform the Bank of Israel about a sexual assault complaint against former CEO Zion Kenan.

Eran served as a partner for 23 years with law firm Goldfarb, Levy, Eran & Co. He left the firm six years ago but continued to act as a legal advisor. An expert in the capital market, he is close to the Arison Group, which controls the bank and in the past he supported Shari Arison in taking control of the bank many years ago.

On Monday, Seroussi met Supervisor of Banks Hedva Ber to discuss the unfortunate events surrounding Kenan. 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 30, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Oded Eran Photo: Eyal Yizhar
Oded Eran Photo: Eyal Yizhar
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