Moshe Kahlon resigned from Mayont "due to events caused before I joined"
Moshe Kahlon, former Minister of Finance, announced a surprising resignation from Yonet Credit after a term of only about a year.
Kahlon attributes the reasons for his resignation to events that occurred before his appointment as chairman of the board. The TASE management has decided to suspend trading in the company's shares.
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16/06/2022
Thursday, 16 June 2022, 15:37 Updated: 16:02
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This has not been an easy year for Yonet-Credit's chairman of the board, Moshe Kahlon
. Aroused criticism of the level of his salary in the position: NIS 8.3 million per year for 80% of his job (after three months, in September 2021, Kahlon decided to cut 20% of his salary - and in practice received even less, as detailed below).
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Moshe Kahlon.
Announced his resignation at the end of a difficult year for Yonet Credit (Photo: Flash 90, official website)
Moreover, the company has recently discovered a number of cases that only increased the confusion around it, such as Shai Cohen, president of the Chamber of Independents and who almost entered the Knesset on behalf of Moshe Kahlon's party, an external director at the company (note that Cohen was in office 4 years before joining Kahlon).
It was also revealed that the former head of finance at the company, Chai Panso, is the brother of the controlling shareholder Shai Panso and the person who replaced him, Tzachi Azar, is actually his cousin.
Kahlon's own fantastic salary, which was the subject of criticism, turned out to be significantly lower in practice: Kahlon received "only" NIS 2.2 million, some as direct salary and some as share capital.
And if all this were not enough, it was recently learned that the company intends to sell joint control to Giza, in the amount of NIS 10 million, which will reflect a value of NIS 55 million (higher than its value according to the share price).
But Shai Panso, the CEO, is a partner there (along with Shlomo Isaac) in Giza.
These cases, along with other publications,
In his retirement announcement, Kahlon wrote: "Unfortunately, and as you know, we understand that the company may have significant financial exposure, which was caused by events caused before I joined the company. In view of these developments and with a heavy heart, I decided to notify the controlling shareholders." The company immediately.
I wish you and the company good luck along the way. "
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