Bank Hapoalim's (TASE: POLI; LSE:80OA) board of directors will meet today to discuss its response to Supervisor of Banks Rony Hizkiyahu's demands in his report on the bank concerning the resignation of president and CEO Zvi Ziv and the appointment of deputy CEO Zion Keinan as his replacement. Bank Hapoalim controlling shareholder Shari Arison may attend the meeting. She went to the previous board meeting on Monday, which was cancelled.
Bank Hapoalim's board, under chairman Dan Dankner, has until May 11 to respond to the Bank of Israel's comments.
Arison is scheduled to hold another meeting with Governor of the Bank of Israel Prof. Stanley Fischer next week, when she will respond to his informal request to remove Dankner from his post. No date has yet been set for this meeting.
Yesterday, Fischer spoke publicly for the first time against Bank Hapoalim. He told the Knesset Economics Affairs Committee, "We concluded that we had to do this. We wanted to handle this matter quietly, to allow people to leave with dignity. We have not yet decided on formal measures."
Published by Globes [online], Israel business news - www.globes-online.com - on May 7, 2009
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