Company News

CEO of Israel's El Al Airlines to resign

JERUSALEM, Oct 30 (Reuters) - The chief executive of EL Al Israel Airlines said on Friday he would leave the position by January and a search for his replacement was underway.

Gonen Usishkin, who was appointed CEO in early 2018, said in a letter to employees that he agreed with the company’s new chairman to step down.

Control of Israel’s flag carrier was bought in September by religious student Eli Rozenberg after the company was forced to issue shares to the public in order to receive government assistance.

El Al has been hard hit since Israel effectively closed its borders because of the novel coronavirus crisis.

El Al announced on Oct. 20 that it appointed David Brodet, a former chairman of major Israeli bank Leumi, as its chairman. (Reporting by Ari Rabinovitch Editing by Robert Birsel)