The board of directors of Givot Olam Oil Exploration LP (TASE:GIVO.L) has summoned CEO and chief geologist Tovia Luskin to a pre-dismissal hearing over dissatisfaction with his performance.
In a notice to the Tel Aviv Stock Exchange (TASE) this morning, Givot said, "It was decided to summon Mr. Tovia Luskin to a hearing before taking a decision on the continuation or the termination of his term as CEO (but not on his responsibility for operations), because of disagreements and dissatisfaction of the board of directors with his performance as CEO."
Givot director Samuel Laurence Becker refused to divulge with shareholders the reasons for the summons for Luskin. He declined to discuss the disagreements between Luskin and the board, saying, "I do not want to talk about it. When there is a hearing, we can report more. The hearing will be held very soon."
Last week, Givot announced the completion of the Meged 6 oil well and preparations for production tests.
Published by Globes [online], Israel business news - www.globes-online.com - on February 10, 2014
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