Stella Handler leaves Hot

The move follows the communications company’s delisting, meaning the likely diminishing of Handler’s chairmanship role.

9 January 13 19:39, Gad Peretz

Less than two years since being appointed to the post, Stella Handler, chairperson of Hot Telecommunication Systems Ltd., announced her resignation today.Handler is leaving following the delisting of Hot from the Tel Aviv Stock Exchange and its transformation into a private company, and after reaching the conclusion that, in the new structure, her role will become much less important.

“The change to being a private company, together with the completion of a number of strategic moves that have positioned Hot in its rightful place in the market, led me to the decision that this is the right time for me to leave the company,” Handler said today, and added that “I should like to thank Patrick Drahi for his support and his faith in me, which greatly helped me in leading the company forward.

“I leave a strong, forward-looking management, dedicated and professional employees, and a company with a clear and coherent strategy,” Handler added.

In recent weeks, rumors were rife that Handler would leave, but she denied them forcefully. However, communications market sources estimated that the delisting of Hot, and the fact that Patrick Drahi, the controlling shareholder, will be more involved in the company, led Handler to draw her conclusions and to seek other challenges.

Handler was ranked number one in the “Lady Globes” survey of women senior executives last year. In 2011, her salary cost was NIS 14.8 million, of which NIS 1.8 million was salary, NIS 2 million was a bonus, and NIS 11 million was in the form of options that were out of the money at the time of the delisting of the stock.

Published by Globes [online], Israel business news – www.globes-online.com – on January 9, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013