Shlomo Eliyahu Appointed Interim CEO of Migdal Holdings
Migdal Holdings announces that owner Shlomo Eliyahu will temporarily serve as CEO following Yossi Ben Baruch's departure. The firm approaches a 20 billion shekel market valuation.
Half a year after Yossi Ben Baruch stepped down as CEO of Migdal Holdings, the parent company of Migdal Insurance, a permanent replacement has yet to be found. The holding company now reports that owner Shlomo Eliyahu will temporarily assume the role.
Eliyahu will serve as interim CEO until a permanent candidate is appointed. Roni Gamzu serves as the chairman of the holding company.
This interim appointment affects the upper holding layer, while Migdal Insurance itself remains unchanged. At the insurance subsidiary, the chairman is Raviv Zoller and the CEO is Ronen Agassi.
In recent years, Migdal has suffered from high turnover, cycling through more than a dozen CEOs and chairmen. In contrast, Agassi has managed to hold his position for three years, signaling his intention to stay for the long term.
Migdal is the fifth-largest insurance company traded on the Tel Aviv Stock Exchange, with a market capitalization approaching 20 billion shekels. This reflects a surge of about 300% over the past three years, mirroring a broader rally across financial and insurance stocks.
