TEL AVIV, Israel, April 20, 2016 /PRNewswire/ --
ICL (NYSE and TASE: ICL), today announced that Mr. Johanan Locker has been appointed the next Chairman of the Board of Directors of ICL. The appointment is based on the recommendation of a search committee established by ICL's Board following the recent resignation of Mr. Nir Gilad as Chairman of the company. Mr. Locker becomes a member of the Board, effective immediately, and will assume his role as Chairman of the Board no later than September 1, 2016.
The following statement was issued by the Board following a meeting it held on April 20:
"ICL's Board of Directors views Johanan Locker as an experienced manager with proven decision-making capabilities and the skill-set required to analyze complex situations and lead strategies in a complex organization with broad operations facing multiple and diverse challenges.
The Board believes that Mr. Locker will make an important and significant contribution to ICL and wishes him much success. He will benefit from the undivided and deep cooperation of ICL's CEO, Stefan Borgas, as well as all of the company's management in their mutual efforts to meet ICL's strategic goals and business objectives.
Prior to Mr. Locker's assumption of his duties as Chairman, Mr. Gilad will continue in his role as Chairman and provide his support to the new Chairman. The Board would like to take this opportunity to once again thank Mr. Gilad for his invaluable contribution in transforming ICL into a successful global company and a leader in its field."
The Company intends to convene a General Meeting of Shareholders in the near future to approve the terms of Mr. Locker's compensation.
Mr. Locker is the CEO of Clal Heavy Industries Ltd. He also serves as Chairman of the Board of Beit Shemesh Engines, Golf & Co. Group and Clal Sun. Mr. Locker was Chairman of Hadera Paper from 2013 to 2015. He serves as a member of the board of Mashav Initiating and Development, Taavura Holdings and Jafora-Tabori. Previously, Mr. Locker served as Military Secretary to the Prime Minister of the State of Israel from 2010 to 2012. Mr. Locker also held various command positions in the Israel Air Force (IAF), among them Chief of Staff and Deputy IAF Commander, from 2008 to 2010, and Head of the IAF's Air Division from 2005 to 2008. Mr. Locker holds a MA in Public Administration from Harvard University's Kennedy School of Government, and a BA in Economics and Business Administration (with honors) from Bar Ilan University.
ICL is a global manufacturer of products based on specialty minerals that fulfill humanity's essential needs primarily in three markets: agriculture, food and engineered materials. ICL is a public company whose shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). 46.2% of ICL's equity is held by Israel Corp., 13.9% by Potash Corporation of Saskatchewan and the remainder by the public. The company employs approximately 14,000 people worldwide, and its sales in 2015 totaled US$5.4 billion. For more information, visit the company's website at http://www.icl-group.com.
INVESTOR RELATIONS CONTACT
Head of Investor Relations, ICL