Bezeq Shareholders Okay $53,000 Monthly Salary for Chairman

The meeting also approved an options plan for 117 senior employees

Asa Sasson
Send in e-mailSend in e-mail
Bezeq Chairman Gil Sharon.
Bezeq Chairman Gil Sharon.Credit: Rami Zarnegar
Asa Sasson

Bezeq shareholders approved salary and options for company executives worth 59 million shekels ($18 million) at their meeting. Chairman Gil Sharon is to receive 170,000 shekels per month at an annual cost of 2.7 million shekels.

His predecessor’s annual cost was 3 million shekels.

He will also be eligible for compensation of up to 10% of his salary, with all conditions approved retroactively to his starting date in August.

The meeting also approved an options plan for 117 senior employees. Sharon will receive options worth 10.8 million shekels, CEO David Mizrahi will get 8.1 million shekels in options and Ran Guran, CEO of subsidiaries Pelephone, Yes and Bezeq international also will receive 8.1 million shekels in options.

The options will be granted in three stages until released in four annual portions. The exercise price for the first allocation will be 3.72 shekels per share. Bezeq’s share price closed on Monday at 3.47 shekels, 7% below the set exercise price.

Comments