ZIM’s incoming CEO could earn up to NIS 3.4 million in 2026

ZIM has called a shareholders’ meeting to approve the compensation package for its incoming CEO, Dr. Chen Lichtenstein, who is set to replace veteran chief executive Eli Glickman in early July. Lichtenstein previously served as CEO of Adama and is currently a director at Teva Pharmaceutical Industries.

Under the proposed terms, subject to shareholder approval, he will receive a monthly salary of NIS 240,000, an annual bonus of up to NIS 4.3 million, and a signing grant of NIS 1.44 million. In 2026, his total pay package would reach as much as NIS 3.4 million.

The proposed compensation is structured to remain valuable whether or not ZIM’s planned sale goes through. If the deal is completed, Lichtenstein would be eligible for the full NIS 4.3 million bonus. If it does not close, he would instead receive options whose annual vesting value equals NIS 4.3 million.

If ZIM becomes a private company and Lichtenstein is dismissed within his first 24 months, he could receive a golden parachute, in some cases a one-time payment equal to the salary remaining to complete his first two years in office. The company is being acquired by German shipping group Hapag-Lloyd and Israeli fund FIMI for $4.2 billion, a deal approved by shareholders but still awaiting the State of Israel’s consent because it holds a golden share. This week, during a Knesset Finance Committee discussion, some officials voiced opposition, including the Economy Ministry representative, while other ministries, among them Finance and Defense, had not yet decided.