ICL: CEO Resignation

Sep 09, 2016, 08:55 ET from ICL

TEL AVIV, Israel, September 9, 2016 /PRNewswire/ --

ICL (NYSE and TASE: ICL) announced today that ICL CEO, Mr. Stefan Borgas, asked the Board of Directors to accept his resignation from his duties as CEO and as member of the Board on a date to be agreed upon.

The Chairman of the Board, Mr. Johanan Locker, and the Board of Directors, accepted Mr. Borgas' request and will begin a search for a new CEO. Mr. Borgas will be available to the Company to transfer his role in a proper way.

Mr. Borgas (52), who was nominated in September 2012, said today: "after four successful years of leading ICL through a historically dramatic downturn of the commodity industry, I feel that it is time for me to move the center of my life back to Europe. Therefore, I ask the BOD to support my request."

About ICL   

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). The company employs approximately 13,000 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 .

PRESS CONTACT            
Gadi Ohana              
Debby Communications          

Limor Gruber            
Head of Investor Relations, ICL