globes 5-3-2013
Bezeq to approve Stella Handler as CEO on Wednesday
Handler, who previously served as chairwoman of Hot Telecommunication, will succeed Avi Gabay in June.
Bezeq Israeli Telecommunication Co. Ltd’s (TASE: BEZQ) board of directors will convene tomorrow to approve the appointment of Stella Handler as CEO. Handler, who previously served as chairwoman of Hot Telecommunication Systems Ltd. (TASE: HOT.B1), will succeed Avi Gabay in June, after her 12-month cooling period expires.
Many people sought the Bezeq CEO post and met chairman and controlling shareholder Shaul Elovitch. He ultimately settled on Handler because of their close relationship when he owned 012 Smile Telecom Ltd. and she was the company CEO.
Notwithstanding Handler’s appointment, no personnel changes are expected in Bezeq’s management at this time, given Elovitch’s strong appreciation of the company’s current executives, and Handler will not bring in her own people. That said, things could change, and Bezeq could see managerial changes.
Bezeq International Ltd. CEO Yitzhak Benvenisti is a candidate to succeed Gil Sharon as CEO of sister company Pelephone Communications Ltd., if and when Sharon decides to leave. There have been market rumors that Sharon plans to leave the company, but knowledgeable sources say that he wants to stay on the job, and any round of appointments depends on him.
Bezeq is also unable to assess regulatory changes and whether the company’s mandated structural separation will be cancelled. Sources believe that if Bezeq International is merged into Bezeq, Benvenisti may go to Pelephone as CEO for a limited period, or he may work on the merger.
Elovitch is also worried about future problems waiting for satellite television broadcasting subsidiary DBS Satellite Services (1998) Ltd. (YES), especially if the Antitrust Authority orders Bezeq to sell half the company. Bezeq therefore has no intention of carrying out any shocks, and both Sharon and Yes CEO Ron Eilon will keep their jobs.
Published by Globes [online], Israel business news – www.globes-online.com – on March 5, 2013