Before completing his two-year term as CEO of Cellcom, he announced Avi Gabay Surprisingly for his resignation from the cellular giant. Cellcom’s recently published quarterly report did not hint at an expected resignation: after a challenging period, the company presented, in the first nine months of 2021, a net profit of NIS 6 million, a turnover of about NIS 3 billion.
The value of the company, which is traded on the Tel Aviv Stock Exchange, is about NIS 2.3 billion. It should be noted that despite the good revenues and profits, Cellcom announced to many of its subscribers, just last week, a significant increase of tens of percent in the cellular services package. It is not known whether Gabay’s resignation has anything to do with this move.
Gabay, who began his career in the budget department at the Ministry of Finance, previously served as CEO of Bezeq International and Bezeq (2003-2013), leaving the business world for a public career. He managed to be elected head of the Labor Party, but although he claimed at the time that the election for prime minister would be between him and Netanyahu, his time in politics was not considered successful.
After the baptism of fire in politics, Gabay returned to a management career in the communications business, this time as CEO of Cellcom.
It has not yet been announced who is expected to replace Gabay in his position.
Source: Maariv.co.il – כלכלה בארץ by www.maariv.co.il.
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