Haim Shani appointed IAI director

IAI chairman Dov Baharav pressed for the appointment.

Former Ministry of Finance director general Haim Shani has been appointed a director at Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1).

Shani resigned from the Ministry of Finance in July at the height of the tent protest, after previously serving as CEO of NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE), at the same time that IAI chairman Dov Baharav was president and CEO of Amdocs Ltd. (NYSE: DOX). Minister of Finance Yuval Steinitz and Minister of Defense Ehud Barak appointed Baharav as IAI chairman last summer.

Well informed sources told "Globes" today Shani's appointment to the board of directors of the government defense company was promoted by Baharav, who asked Steinitz and Barak to approve the measure. They agreed.

As an IAI director, Shani will earn NIS 1,150 per board meeting. IAI's board meets once a month, and there are also subcommittee meetings from time to time. Shani's appointment comes one day after former Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) CEO Amos Shapira was appointed as an external director.

Published by Globes [online], Israel business news - www.globes-online.com - on March 21, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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