New-Med Energy Seeks Approval for Chairman's Compensation Package
Translated & summarized from TheMarker by baba
New-Med Energy, controlled by Yitzhak Tshuva, is asking shareholders to approve a compensation package for incoming Chairman Yanky Kuint. Kuint is set to receive NIS 100,000 monthly for a 70% role, plus NIS 3 million in options and a bonus up to NIS 560,000. The company cites his ability to handle regulatory challenges for the above-policy salary.
The story in 4 lines · by baba
- New-Med Energy seeks approval for Chairman Yanky Kuint's NIS 100,000 monthly salary.
- Kuint will receive stock options worth NIS 3 million and a bonus up to NIS 560,000.
- The salary exceeds the company's policy limit of NIS 84,000 for a 70% position.
- The company cited Kuint's ability to handle regulatory challenges for the pay deviation.
New-Med Energy, controlled by Yitzhak Tshuva, is seeking shareholder approval for the compensation package of its incoming Chairman, Yanky Kuint, and its CEO, Niv Serna. The company will convene a general assembly in December to vote on the terms.
Kuint, who is set to assume his role this Sunday, is expected to receive a monthly salary of NIS 100,000 for a 70% position. This is above the company's standard policy, which caps salaries at NIS 84,000 for a 70% role. The company cited Kuint's ability to handle regulatory challenges as a reason for this deviation. In addition to his salary, Kuint is slated to receive stock options valued at NIS 3 million and an annual bonus of up to NIS 560,000.
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