Management chaos at the electric company again: the board of directors will not be able to convene

Management chaos at the electric company again: the board of directors will not be able to convene except in the event that it decides on a general meeting or the appointment of new directors. This, is because the board of directors has six members left, while the statutes stipulate a minimum number of seven.

The number of directors fell below the minimum level after the term of office of two directors, who serve as employee representatives, ended today: Anat Oren-Elad and Yoav Drucker.
Appointing a board member requires a long process that includes, among other things, interviews with the relevant ministers. The appointment should receive the approval of the Gilaur Committee, after which the signature of the relevant ministers is required.
On Friday, the Electric Company warned Energy Minister Karin Elharer, Finance Minister Avigdor Lieberman and Director of the Government Companies Authority Michal Rosenbaum that without the appointment of new board members there would not be enough members to continue the current activities; However, despite this, no additional member was appointed to allow the board to continue operating.
In response today (Sunday) Elharar addressed the board of directors claiming that on her part and on the part of the Minister of Finance three names were approved over a month ago awaiting approval by the Companies Authority and the Gilaur Committee. This is about the appointment of Ilan Biran as chairman, and two employee representatives - Einav Hashai and the re-appointment of Oren-Elad.
The minister's claim joins requests made since the middle of last month to the Companies Authority regarding the need to approve the appointment of an additional board member before the end of Oren-Elad and Drucker's term of office. The next hearing of the Gilaur Committee is expected to take place on Tuesday this week. If the aforementioned candidates are indeed approved, a board meeting can be held on Thursday this week according to the regular schedule.