Supervisor of Banks Rony Hizkiyahu gave the bank until tomorrow morning to respond.
Bank Hapoalim (TASE: POLI) today notified the Tel Aviv Stock Exchange (TASE) that, last night, Supervisor of Banks Rony Hizkiyahu, asked the bank's board of directors to present options for the finding and selection of the best candidate for CEO of the bank. Hizkiyahu asked for the bank's response by tomorrow morning.
In the letter to Bank Hapoalim chairman Dan Dankner, Hizkiyahu said, "The board is asked to set up a search committee for a CEO… After receiving a document that will outline the explicit arguments and alternative formats, I will review the need for a meeting between us."
Bank Hapoalim yesterday rejected the Bank of Israel's demand that it set up a search committee for a new CEO. Bank Hapoalim's board said that it rejected the conclusions of Hizkiyahu's report about the appointment of Bank Hapoalim deputy CEO Zion Keinan as CEO, replacing Zvi Ziv.
Published by Globes [online], Israel business news - www.globes-online.com - on May 13, 2009
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