HAIFA, Israel, March 9, 2017 /PRNewswire/ --
ZIM Integrated Shipping Services Ltd. (IL0065100443, IL0065100856) (the "Company") hereby notifies, in accordance with the provisions of Section 4.03 of an Indenture entered into between ZIM Integrated Shipping Services Ltd. (the "Company") and Hermetic Trust (1975) Ltd. on July 16, 2014 (the "Indenture"), as follows:
ZIM Integrated Shipping Services' ("ZIM's") Board of Directors has nominated Eli Glickman as President & CEO of the company effective July 1, 2017. Glickman will replace Rafi Danieli, current CEO, who last year advised that he would be stepping down.
Guy Eldar, CFO, has requested to leave the company after four and a half years in this position. A replacement is yet to be nominated.
Glickman, 55, was previously CEO of the Israel Electric Company. Before that, he was Deputy CEO of Partner - Orange Cellular Communication and previously managed Partner Orange's Customer Division. During 2003-2005 Glickman was CEO of Exel MPL, the logistics company. Before working in the business community Glickman was a Commanding Officer of the Israeli Navy Special Operations Unit, and was also a missile ship commander and the Naval Attaché in Washington D.C. Glickman has a Master of Science in Financial Management from the University of Monterey (California) and is a graduate of Georgetown University's International Executive Business Administration program.
Guy Eldar, 42, led ZIM's financial functions for the past four and a half years. Eldar led the complicated restructuring of the company's debts in 2014, and in so doing improved Zim's balance sheet and financial stability. Eldar decided to leave Zim for personal reasons.
Rafi Danieli led ZIM for the past 8 years. Before being appointed CEO, Danieli fulfilled various positions in ZIM, including CFO and Deputy CEO. As CEO, Danieli led a successful operational reorganization which resulted in material improvements in Zim's efficiency.
Rafi Danieli said: "It has been a privilege to lead Zim during the most difficult times the industry has ever faced. Through the combined efforts of management and our devoted employees, during these difficult times we improved our network, operating margins, efficiency and customer service. For the last eight financial quarters, our operating margins have put us in the top tier of liner companies."
Eli Glickman said: "Despite challenges throughout the liner industry, Zim has continued to perform well relative to its peers. Zim is a dynamic and exciting company and I am looking forward to joining."
SOURCE ZIM Integrated Shipping Services Ltd.