JERUSALEM Jan 1 Galia Maor will step down
as chief executive officer of Bank Leumi, one of
Israel's two largest banks, during the second quarter of this
year after 16 years in the job.
Maor, who joined Leumi in 1991 and became CEO in 1995, said
in a statement on Sunday that she had waited to announce her
resignation until the bank's management had completed a
multi-year plan. The timing of her departure would allow time
for a handover to her as yet unnamed successor.
Prior to joining Leumi, Israel's largest bank in terms of
assets, Maor served in a number of senior management posts at
the Bank of Israel between 1963 and 1989, including supervisor
of banks in 1982-1987.
Leumi Chairman David Brodet said a board-appointed committee
would choose a new CEO, and paid tribute to Maor saying: "There
is no doubt she leaves behind a glorious legacy."
(Reporting by Steven Scheer; Editing by Ruth Pitchford)