The march of executive departures is continuing at Makhteshim Agan Industries Ltd. (TASE: MAIN). The company announced today that Agan Chemical Manufacturing managing director Avraham Kleiner will shortly leave his post.
Kleiner began working for the company in 1964, when he was 23, and during the 1970s moved up from the technical side into management. He was appointed managing director in 1998, and joined Makhteshim Agan’s board of management in 2002. He was awarded the Manufacturers Association of Israel’s outstanding industrialist award in 2006.
Kleiner’s successor will be David Nir, 58, who has worked at Agan Chemical since 1976. Since 2004, he has served as general manager of the company’s foreign subsidiaries. He will first take over at Agan Chemical, and later also join Makhteshim Agan’s board of management.
Since IDB Holding Corp. Ltd. (TASE:IDBH) subsidiary Discount Investment Corporation (TASE: DISI) acquired control of Makhteshim Agan’s parent company Koor Industries Ltd. (NYSE: KOR; TASE: KOR), Makhteshim Agan’s president and CEO Shlomo Yanay has left the company to become president and CEO of Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA). He was replaced by chairman Avraham Bigger. A number of other executives left the company in Yanay’s wake, including VP and COO Eli Assraf and Makhteshim Agan Europe general manager Shlomo Yones.
Published by Globes [online], Israel business news - www.globes.co.il - on May 24, 2007
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