General Announcement::The appointment of an Acting Chief Executive Officer

Issuer & Securities

Issuer/ Manager
THE ISRAEL ELECTRIC CORPORATION LTD.
Securities
THEISRAELELEUS$1B7.25%N190115A - US46507MAA09 - 3QFB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
22-Jul-2022 03:25:36
Status
New
Announcement Sub Title
The appointment of an Acting Chief Executive Officer
Announcement Reference
SG220722OTHRNY7C
Submitted By (Co./ Ind. Name)
Yael Nevo
Designation
SVP & General Counsel
Description (Please provide a detailed description of the event in the box below)
Further to the immediate report of the Israel Electric Corporation (the "Company") of April 14, 2022 regarding the Company's Board of Director's decision to appoint Mr. Meir Shpiegler to the position of Chief Executive Officer of the Company, subject to approval by the Minister of Finance and the Minister of Energy, and further to the approval of the appointment by the Committee for Checking Appointments in Government Companies on June 20, 2022, the Company is honored to announce that since the appointment of Meir Shpiegler to the position of permanent Chief Executive Officer has not yet been completed, on July 21, 2022, the Company's Board of Directors decided to appoint Mr. Meir Shpiegler as Acting Chief Executive Officer, and this subject to the receipt of the approval for this from the Director of the Government Companies Authority,
The timing at which Mr. Shpiegler will actually take up his position has not been determined as yet, and this will be done in coordination with him.
It should be clarified that Mr. Shpiegler's appointment as permanent Chief Executive Officer, to different from an appointment as Acting Chief Executive Officer, which is an appointment that is delineated by a period of time, is still subject to approval by the Minister of Finance and the Minister of Energy.
The Company will continue to report on this matter, as required by law.

The Israel Electric Corporation Ltd.
By:

Ram Erlichman, Acting CEO & Senior Vice President Generation and Energy
Yael Nevo, SVP & General Counsel