-Leumi board extends cooling off period for CEO.Global Banking News-May 7, 2012--Leumi board extends cooling off period for CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. (C)2012 ENPublishing - http://www.enpublishing.co.ukGlobal Banking News - 07 May 2012 The board of directors at Bank Leumi (LUMI.TA) has announced that it has enhanced terms of the cooling-off period An interval of time during which no action of a specific type can be taken by either side in a dispute. An automatic delay in certain jurisdictions, apart from ordinary court delays, between the time when Divorce papers are filed and the divorce hearing takes place. for CEO Galia Maor. The cooling-off period has been extended from six months to two years, and Maor would be monetarily compensated. In a statement, the board said, 'In return for her agreement to extend the cooling-off and non-competitiveness period, the outgoing CEO will receive a one-time compensation of ILS ILS In currencies, this is the abbreviation for the Israeli Shekel. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3.25m. Maor would not be allowed to seek employment with an Israeli corporation in these two years. [Editorial queries for this story should be sent to gbn@enpublishing.co.uk] ((Distributed via M2 Communications - http://www.m2.com)) |
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