Migdal board ousts chairman Moti Rosen

• Date: 11 March 2021
• Published date: 11 March 2021
• Author: Ron Stein

A statement from the Migdal board said, "Due to the disagreements and differences which cannot be bridged between the Migdal CEO and Migdal chairman about the way things should be managed, the board will act to end the term of office of the Migdal chairman in his role."

Rosen also serves as CEO of Migdal's parent company Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) and although the board has no power to remove him from that job, he is likely to be required to step down.

Rosen only took up his post as Migdal chairman on January 3, replacing Nir Gilad, who was also...