CAL Deputy CEO to leave company ahead of decision on its future
Deputy CEO and Head of the Business Clients and Partners Division, Odalia Moshe Ostrovsky, will conclude her tenure after two years, during which she also served as CEO of Diners. Her departure follows the resignation of the VP of Human Resources amid ongoing leadership tensions at CAL.
Just before the Competition Authority is set to rule on the company's sale, CAL is saying goodbye to another VP. This time it is Odalia Moshe Ostrovsky, Deputy CEO of CAL and Head of the Business Clients and Partners Division, who for the last two years also served as CEO of Diners.
Ostrovsky joins VP of Human Resources Lital Wechsler, who announced her resignation following severe tension with the new CEO, Yafit Griani. Senior officials at CAL estimate that the round of management changes is unlikely to end soon and that further personnel shifts in the company's leadership are possible. CAL provided no response.
Currently, the Competition Authority is formulating its decision regarding the sale of CAL to the Union Group of the Horesh family and the Harel company for a sum of up to 4 billion shekels. One of the constraints burdening and delaying the decision concerns the Super-Pharm chain, which is partially held (35%) by the Union Group, while CAL holds the Shufersal club, owner of the country's second-largest pharmacy chain, Be. The Competition Authority fears the leakage of sensitive public information into the hands of the same group.
Discount Bank, under the management of Avi Levy, chose the Horesh-Harel group to purchase its shares in the credit card company CAL nearly a year ago, on the eve of last year's Rosh Hashanah. Shortly thereafter, long-time CAL CEO Levy Halevi resigned to manage El Al. Yafit Griani was appointed to replace Halevi. CAL is expected to publish its results for the second quarter and the first half of the year this coming Wednesday.
