Beren CEO Itzik Frank Steps Down After 20 Years
Translated & summarized from Calcalist by baba
Beren CEO Itzik Frank is stepping down after five years as CEO and more than 20 years with the infrastructure company. Frank requested to leave, citing it was the right time after a significant chapter. During his tenure, the company's market value doubled to NIS 470 million. Beren is now searching for a successor.
The story in 5 lines · by baba
- Beren CEO Itzik Frank is resigning after 20 years with the infrastructure company.
- Frank served as CEO for five years and requested to end his tenure.
- During his time as CEO, Beren's market value doubled to NIS 470 million.
- Avichai Stolero controls 31.2% of Beren, with founder Meir Dor holding 16.1%.
- The company is currently seeking a replacement CEO.
Infrastructure company Beren announced on Tuesday the departure of its CEO, Itzik Frank, who requested to end his tenure. Frank served as CEO for five years, having started at the company as a student and rising through management ranks. During his time as CEO, significant moves were made that expanded Beren's operations and strengthened its market position, according to the company's founder and chairman, Meir Dor.
Beren, which is traded at a market value of NIS 470 million, saw its market capitalization double during Frank's tenure. The company is controlled by Avichai Stolero, who holds 31.2% of the shares after recent acquisitions, alongside founder Meir Dor, who owns 16.1%.
Frank stated that Beren had been his professional home for over two decades since he joined as a student, and after more than a decade in CEO roles, he felt it was the right time to conclude this significant chapter. The exact date of his departure will be determined in the coming weeks, and the company is actively seeking a replacement CEO.
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