Yankie Kuint to Lead Yitzhak Tshuva's NewMed Energy Amidst Major Compensation Package

Yankie Kuint, formerly the director of the Israel Land Authority and head of the Government Companies Authority, has been appointed chairman of the gas partnership NewMed Energy, owned by billionaire Yitzhak Tshuva. Kuint is expected to assume his new role on November 1. Recent reports revealed details of Kuint's compensation package, which includes a gross monthly salary of NIS 100,000 for a 70% position, an annual bonus of up to NIS 560,000 tied to targets, and non-tradable options valued at approximately NIS 3 million. The company is also seeking approval for the compensation of CEO Niv Sarana, who will earn NIS 180,000 monthly plus options. NewMed Energy, controlled by Tshuva's Delek Group, is a dominant player in the regional energy market, holding a 45% stake in Israel's largest natural gas field, Leviathan, and participating in the Aphrodite field development near Cyprus. Kuint's appointment comes during a critical period for the sector, with plans to expand Leviathan's production and new export agreements in the works. This follows a period of significant organizational changes at NewMed Energy, including Sarana's brief tenure as chairman before moving to the CEO position after the departure of long-time CEO Yossi Abu. Kuint, 53, brings extensive management experience from his previous roles overseeing government land marketing and supervising dozens of state-owned corporations, including privatization efforts. His background includes law, economics, and an MBA. His move from managing state assets to leading a major Middle Eastern energy infrastructure asset marks a new phase for the partnership.