Cellcom CEO Nir Stern leaves the company and will be the Director of "Paz"

Detection Committee of the Board of Directors of "Paz" elected Cellcom CEO Nir Stern as CEO of the company instead of Yona Vogel.
Cellcom's CEO met with Paz Chairman last night, who informed him that he had been elected by the search committee for the position. The appointment should be official in the coming days. Cellcom is in a challenging period and is expected to lay off hundreds of employees. Two weeks ago, she raised NIS 600 million
The committee that included Eric Steinberg, Eric Shore, Ami Shafran and Abraham Bigger favored an outside candidate over internal candidate Yoram Eyal, who led the growth of the yelow chain of stores. The surprise in both companies with the advertising was huge. The directors of Paz, Cellcom and its controlling shareholder did not know about the appointment.
Stern is leaving a company that lost NIS 53 million in the first nine months of 2019, which is about to cut its investments and lay off hundreds of employees. Even after such measures, it is doubtful whether you will be able to make a profit.
Nir Stern is moving to run a more heavily regulated company, but a profitable company that has a clear future and operates in many areas: retail, refining, trade and industry. Stern will enter Yona Vogel's big shoes, which was very dominant and left in the face of clashes with the board. One of his tests will be the degree of independence he will receive or take, and if he becomes the kind of assistant to the chairman of Abraham Bigger.
As far as Bigger is concerned, he has also succeeded in recruiting a renowned CEO, and on the personal level can also see a little revenge on Cellcom Chairman Ami Arel. Both served as executives under Nochi Dankner, the former controlling shareholder of Investment Discount, and their relationship came to a halt after Dankner pushed Bigger out of the position of chairman of Makhteshim Agan, now the "Adama".