Doral Energy told the Tel Aviv Stock Exchange on Tuesday that Yaki Neumann, its deputy chairman, has asked to end his roles at the company immediately. Neumann had served as Doral’s chief executive for 12 years before being replaced last year by Yoni Hantzis, after which he moved into the deputy chairman role he is now leaving.
In its filing, Doral thanked Neumann for his many years of service since the company was founded. It said that during his tenure he led the company “with vision, professionalism and leadership” to significant achievements. Neumann said he is ending his active role after “almost two decades” at Doral, where he was privileged to serve as CEO from the company’s founding and then one more year as deputy chairman.
Neumann wrote that Doral was once “mainly a big idea and an ambitious vision,” but has since grown into an international group that develops projects on an unprecedented scale and creates meaningful positive impact. He said the company is now stronger than ever, with an excellent management team and an outstanding staff, and expressed confidence that its best years still lie ahead.
Doral is currently valued at about 14.6 billion shekels on the stock market. Its share price has climbed 84.3% since the start of the year, but it has fallen 35% so far this month. The drop came in part after a large discounted fundraising of 920 million shekels, intended to increase its stake in its U.S. subsidiary.
