Buoyant Israel Corp. announces millions in options for managers
The Israel Corporation, which is enjoying an incredible year after buying the state's share of the Zim shipping company at a low price and posting record profits at subsidiaries Oil Refineries and Israel Chemicals. The company's share price has tripled over the last two year, and with a market value of NIS 8.7 billion, the Ofer brothers' firm is the largest and most stable investment company on the Tel Aviv Stock Exchange.
As a result, the company's senior managers, and in particular, CEO Yossi Rosen, are being awarded accordingly. The firm reported yesterday a new options program approved by the board of directors, whereby seven senior managers will receive a total of 70,000 options, or 1 percent of the company's shares. The value of the benefit is NIS 31 million, of which Rosen will receive NIS 8.9 million.
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