Bezeq CEO to step down in 6 months
Avi Gabbay's resignation follows that of former CFO Alan Gelman, who left Israel's largest telecom group at end of 2012 for Better Place electric car venture
Bezeq Israel Telecom, Israel's largest telecom group, said Chief Executive Avi Gabbay would step down in six months. He is expected to be replaced by former HOT Telecommunication Systems Chairwoman Stella Handler, Calcalist business daily reported.
"After 14 years with the Bezeq Group and nearly six years as CEO, I felt it was time for me to make a change," Gabbay said in a statement on Sunday.
His resignation follows that of former Chief Financial Officer Alan Gelman, who left the company at the end of 2012 for the Better Place electric car venture.
Bezeq has undergone deep changes in the past few years as Israel's telecom industry has faced increased competition.
Its net profit fell 38% in the third quarter as its mobile phone unit suffered intense competition from the entry of six new operators, which sparked a price war.
Bezeq also faces increased competition in the landline phone market, in which it was once a monopoly.
Golan Hazani contributed to this report
