September 19, 2019 / 10:54 AM / 2 months ago

CEO of Israel's Paz Oil to step down in March 2020

TEL AVIV, Sept 19 (Reuters) - Israel’s Paz Oil Co said on Thursday its board has accepted the resignation of Chief Executive Officer Yona Fogel, which will take effect on March 31, 2020.

The company, Israel’s largest distributor of refined oil products, did not provide details on why Fogel had submitted his resignation.

According to the Globes financial news website, Fogel decided to leave following a dispute with Chairman Avraham Bigger over plans to spin off the company’s real estate activities. (Reporting by Tova Cohen Editing by Steven Scheer)

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