The Bezeq board of directors announced today the appointment of Gil Sharon to the position of chairman

The Bezeq board of directors announced today the appointment of Gil Sharon to the position of chairman of the largest communications group in Israel. Sharon will take up the position in the coming weeks and will also serve as chairman of the subsidiaries. The announcement was made after rumors circulated that his appointment was awaiting board approval. Bezeq shares ended the trading day with an increase of 2.5%.
Sharon has extensive experience in the local communications market and in Bezeq itself he also served as CEO of Pelephone in 2006-2015. NIS 600-630 million became the same very rich man, after a seller who sold the shares he received when he took office (10%) for NIS 60-63 million.
For long-term investors, Bezeq shares caused quite a bit of damage. It has fallen by 52% in five years, partly due to competition and the criminal entanglement of former controlling shareholder Shaul Alovich and its senior executives. However, the stock jumped 68% from the low it reached in September 2019 - after the market realized that in the last three years the net debt has dropped from NIS 10.5 billion to NIS 7.5 billion today.