The board of directors of the Tel Aviv Stock Exchange has a new chairman, after eight months without one. Today, the board confirmed the recommendation of the search committee, and appointed Amnon Neubach to the chairmanship. The stock had expected about 200 candidates for the post, but in fact only 40 applied.
Over the past few years, Neubach has served as chairman and director on the boards of several companies, among them Direct Insurance, Leumicard, Delta, Bezeq, and Pelephone. He was economic minister at the Israeli Embassy in Washington for five years, and was responsible for obtaining the loan guarantees that helped Israel finance the absorption of the wave of immigration from the former Soviet Union in the 1990s. He was also economic advisor to Shimon Peres when the latter was prime minister in the 1980s, and took part in formulating the economic stabilization plan to rescue Israel from hyper-inflation. Before that, he was Budgets Director at the Minister of Finance. Neubach is a member of the Israel-America Chamber of Commerce.
Thanking the committee and the board, Neubach said today, "I am convinced that together we will address the challenges facing Israel’s capital market at this time and will usher TASE into a new era.”
Adv. Bracha Litvak, who chaired the search committee, said, "Mr. Neubach brings to the post rich and varied experience in business management, in both the public and private sectors, as a director and board chairman. He possesses a broad macroeconomic outlook, and experience in leading significant change in complex organizations."
Israel Securites Authority chairman Shmuel Hauser said, "Amnon's rich experience in the public and private sectors and as a former chairman of major companies will assist him in leading the stock exchange, together with CEO Yossi Beinart and the directors, to new peaks, and in bringing it to its rightful position in the international and local arenas as a generator of growth in the economy and as one of the central pillars of Israeli industry."
Published by Globes [online], Israel business news - www.globes-online.com - on March 20, 2014
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