Avi Gabay, CEO of Cellcom, announced today (Sunday) to the company's chairman and board of directors that he is resigning from the position and the company, after about two years in the position.
Gabay, former chairman of the Labor Party and CEO of Bezeq, was appointed to the position by controlling shareholder Eduardo Elstein in January 2020, after Nir Stern, who served in the position for eight years.
In 2020, Cellcom recorded a loss.
Gabay resigned after the publication of the company's financial statements and returned to the profitability track.
In a statement reported today by the company to the stock exchange, it was stated that "the company announces the resignation of CEO Avi Gabay.
A date has not yet been set for the end of his term. "
Gabay came to Cellcom when it was in a severe crisis, after a decline in revenues due to fierce competition in the cellular field, and with the need for cuts.
Last May, the company faced many criticisms following its decision to hold an event calling for coexistence during the strike in Arab society, and its call for a return to a common life with dignity and equality among all Israeli citizens.
This coincides with a strike announced by the Monitoring Committee in Arab Society.
The incident provoked strong reactions from the heads of localities in Judea and Samaria and from civilians who reacted angrily.
Avi Gabay said today that "Cellcom is an excellent company, and with the hard work of all its parts - employees, management and board of directors - we have recently managed to get back on track for investment and profitability. Now is the time for me to take on new challenges. .
However, the market says that this is a move in which Gabay will join Mori Arkin's investment fund, in order to compete for the acquisition of a partner from Udi Sol, the trustee who holds its shares.
The company says that Gabay leaves a large and powerful company, with about 3.2 million cellular subscribers, more than 120 fiber-optic subscribers and about 250,000 TV subscribers.
In the near future, the company will also open its activities in the field of supplying electricity to customers.
After a long time, the company has recently returned to the profitability track.
Chairman of the Board of Directors of Cellcom, Doron Cohen, stated: "In the last two years, Avi Gabay has brought about a huge change in Cellcom, which includes first and foremost laying the foundation for the company's relationship with its customers, and improving the company at all levels and financial results.
The change was laid on three foundations: building trust between the company and customers, building a relationship of partnership between management and the board of directors and employee representation, and a massive improvement in the company's infrastructure.
"Cellcom has a strong and stable management, which will continue to maintain stability and growth in the interim and in the future."
