The El Al Israel Airlines Ltd. (TASE: ELAL) board of directors late last week approved bonuses totaling NIS 4.5 million for 2016 for six officeholders in the airline, headed by CEO David Maimon, who will receive a NIS 2.1 million bonus.
Chairman Amikam Cohen, who recently announced his resignation, will receive NIS 1.1 million, and four other executives will receive between NIS 237,000 and NIS 420,000 each.
El Al said that the amount of the bonus approved reflects 70% of the NIS 3 million approved for payment to the CEO for 2016. The cost of Maimon's employment in 2016 was NIS 2.3 million, all of it in salary.
The board of directors also decided to appoint former Clalit Health Services CEO Eli Defes, currently an El Al director, as chairman in place of Cohen. Defes is scheduled to take up his new position in June. Cohen became chairman in 2009, and was paid NIS 660,000 last year for a 40% position.
Published by Globes [online], Israel Business News - www.globes-online.com - on April 30, 2017
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