TASE chair Steinberg resigns over pay
Arik Steinberg mentioned a key TASE shareholder experienced blocked stock-based mostly payment.


Tel Aviv Stock Exchange (TASE) chairperson Arik Steinberg announced his resignation yesterday. In his resignation letter to the TASE board of administrators Steinberg wrote that he was resigning “due to the fact of a deficiency of willingness in theory on the component of a sizeable shareholder in the inventory exchange to take into account awarding inventory-centered compensation as component of the employment arrangement for the placement of chairperson of the Tel Aviv Inventory Exchange.”

The major shareholder in the TASE is US financial commitment fund Manikay Partners, which purchased a 19.9% stake for $31 million in 2018. Manikay Companions now holds 19.48% of the TASE, worth NIS 316 million.

Steinberg was appointed chairperson of the TASE very last December, following the board unanimously accepted the recommendation of its research committee. Steinberg had been serving as acting chairperson because the prior incumbent, Amnon Neubach, stepped down on August 1 past yr.

Posted by Globes, Israel business information – en.globes.co.il – on April 27, 2022.

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Arik Steinberg credit: Sivan Faraj
