Israeli telecommunications provider Partner Communications has announced the resignation of board chairman Ilan Ben-Dov.
The nation’s second largest mobile operator said in a statement Ben-Dov – also the indirect controlling shareholder –…
Israeli telecommunications provider Partner Communications has announced the resignation of board chairman Ilan Ben-Dov.
The nation’s second largest mobile operator said in a statement Ben-Dov – also the indirect controlling shareholder – intends to continue to serve as a director.
The company, which operates under the Orange brand name, did not give a reason for Ben-Dov’s resignation or specify when his term as chairman would end. However, it did state the board would discuss the appointment of a new chairperson over the next few days.
Reuters reported Ben-Dov’s controlling shareholding comes from his stakes in Scailex, which holds 44.54% of Partner’s shares, and its parent Suny Electronics, which holds an extra 1.4%.
The report quoted IBI Investment analyst, Ori Licht, as saying investors would likely approve of Ben-Dov’s decision to step down as negative local media reports about his other businesses were affecting Partner’s shares.
According to Reuters, Scailex’ debt is estimated at more than US$781m and the Israeli units of Standard & Poor’s and Moody’s Investors Service recently cut its ratings citing inadequate liquidity.
