Former Israeli Police Chief to Get $557k Salary to Chair Insurance Firm's Board

Yohanan Danino will get paid NIS 2.2m from Migdal Ins., plus a 1.1 million shekel bonus should he stay on for full two years.

Former Police Commissioner Yohanan Danino, photographed when he was still in office.
Olivier Fitoussi

Migdal Insurance announced yesterday that it is convening a shareholders’ meeting on January 21 to approve 2.2 million shekels ($557,000) in annual salary for former Israel Police Commissioner Yohanan Danino, who has been tapped as the company’s board chairman.

The salary, which is designated as 90% of a full-time job, is based on 187,000 shekels per month linked to the cost of living index, with a commitment to work for 24 months.

As the head of the Israel Police, Danino earned about 75,000 shekels per month. At the end of his two-year stint as Migdal board chairman, he is due to receive a 1.1 million shekel bonus, but the bonus is conditioned on his fulfilling his two-year commitment.