Bezeq CFO David Mizrahi steps down

The CFO and deputy CEO of Israeli operator Bezeq, David Mizrahi, is leaving the company to pursue other opportunities, according to a statement. He will stay in the role until a successor is named. A search to fill the CFO position is underway.

The CFO and deputy CEO of Israeli operator Bezeq (TASE:BEZQ), David Mizrahi, is leaving the company to pursue other opportunities, according to a statement.

He will stay in the role until a successor is named. A search to fill the CFO position is underway.

Mizrahi first joined Bezeq in 1996 and later headed the regulation department before becoming VP of economics and budgeting. He has served as CFO and deputy CEO for the last four years.

Commenting on his departure, CEO Shaul Elovitch said: “[David] was extremely successful in securing Bezeq’s position as a leading company in the Israeli capital market, while strengthening the company’s foreign shareholder base.”

Bezeq, which started as a state-owned company, provides domestic, international and mobile phone services, broadband internet, a satellite-based multi-channel TV and corporate networks.

Its mobile unit, Pelephone, has 2.6 million subscribers and is the country’s third largest carrier. In November last year, Bezeq made an offer to merge smaller rival Golan Telecom into Pelephone but it was later outbid by market leader Cellcom.

At present, five mobile network operators and a clutch of MVNOs compete for a population of 8 million.