The company car for senior IDB Holding Corp. Ltd. (TASE:IDBH) managers will be the Volkswagen Passat, Hebrew daily "Yediot Ahronot" reports this morning.
As part of the painful cutbacks that the troubled group is undergoing, in the current round of procurement of company cars, controlling shareholder and chairman Nochi Dankner has given up his Audi A8, which costs up to NIS 1.6 million, in favor of a Volkswagen Passat CC, which costs up to NIS 300,000. Until he takes delivery of the new vehicle, Dankner is using a rented Opel Insignia.
IDB Holding CEO Haim Gavrieli and Discount Investment CEO Lior Hannes will part from their luxury SUVs and receive less expensive cars instead. Dankner's intention is that all CEOs of the group's head office companies will switch to modest vehicles.
"Yediot Ahronot" also reports that IDB will vacate a floor in the Azrieli Center, and the managements of all the head office companies will be concentrated on two floors of the Azrieli Center's triangular tower.
Published by Globes [online], Israel business news - www.globes-online.com - on April 14, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013