Shlomo Eliyahu Appointed Interim CEO of Migdal Holdings at 90
Translated & summarized from Globes by baba
Shlomo Eliyahu, owner of Migdal Holdings, has been appointed interim CEO of the company at the age of 90. He will serve until a permanent CEO is found, following the departure of Yossi Ben Baruch six months ago. The insurance company Migdal itself remains unaffected, with its own chairman and CEO in place. Migdal Insurance is currently valued at nearly NIS 20 billion, having seen significant growth in recent years.
The story in 5 lines · by baba
- Shlomo Eliyahu, 90, will serve as interim CEO of Migdal Holdings.
- The appointment follows the departure of former CEO Yossi Ben Baruch six months prior.
- The change affects the holding company, not the insurance operations of Migdal.
- Migdal Insurance is the fifth-largest insurer by market value, worth nearly NIS 20 billion.
- The company's stock has surged approximately 300% in the last three years.
Shlomo Eliyahu, the 90-year-old owner of Migdal Holdings, the parent company of the insurance firm Migdal, will temporarily step into the role of CEO. This appointment comes six months after the departure of the previous CEO, Yossi Ben Baruch, and will last until a permanent replacement is found. The chairman of Migdal Holdings is Roni Gamzu. This change affects the holding company itself, with no impact on the operations of the insurance company Migdal. At Migdal Insurance, Riviv Tsofer serves as chairman and Ronen Agassi as CEO. In recent years, Migdal has experienced significant executive turnover, with more than three CEOs and chairmen. Agassi, however, has maintained his position as CEO for three years and appears set to continue in the role long-term. Migdal Insurance is the fifth-largest insurance company by market value on the stock exchange, with a market capitalization nearing NIS 20 billion. This valuation reflects a roughly 300% increase over the past three years, mirroring a broader surge in financial and insurance stocks.
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