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Sunday, December 1, 2013

El Al CEO Eliezer Shkedy quits after 4 years

El Al CEO Eliezer Shkedy announced Sunday that he will be leaving the airline in about two months, after four years at its helm.

The company has notified the Tel Aviv Stock Exchange of Shkedy’s decision. It said a replacement would be selected and trained by the time he leaves office and that Shkedy’s resignation was not based on any issues within the company that could be relevant to stockholders.

“Over these years I have had the great privilege of heading a unique company of unusual significance to Israelis, Jews and lsrael lovers in Israel and around the world,” Shkedy wrote in his resignation letter.

He said his four years “in one of the most challenging jobs in the Israeli economy” were “intense.”

Shkedy, a former commander of the Israel Air Force, has said privately that he is leaving the company simply because he has reached his limit there. Some have speculated that he has been appointed to a post in the public sector, but this has not been confirmed.

“The company board of directors regretted to hear Shkedy’s announcement that he intends to resign,” said El Al chairman Amikam Cohen. “Shkedy’s special personality, leadership and contribution to the El Al company deserve special appreciation, and were expressed in all spheres of activity in a company as complex and challenging as this one.”

The airline will be setting up a search committee shortly for a new CEO.

Shkedy said he will continue to lead the airline “wholeheartedly, as I have done so far” until a new CEO is chosen and trained.

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