Published On: Wed, Jul 24th, 2013

ISA chief seeks to oust TASE chairman

ISA chairman Shmuel Hauser has wriiten to the TASE board saying Sam Bronfeld should not be on the CEO search committee.

Shmuel hauzer- ISA chief - PR

Israel Securities Authority (ISA) chairman Shmuel Hauser

/By Lital Istamati and Ron Stein /

Israel Securities Authority (ISA) chairman Shmuel Hauser is determined to replace the senior management of the Tel Aviv Stock Exchange (TASE). After the resignation of CEO Ester Levanon last week, and the resignations of Yossi Treister, a senior vice president and manager of the Administration & Finance Department Manager, and of executive vice president and CIO Yoni Shemesh this week, Hauser is attempting to oust chairman Saul (Sam) Bronfeld as well.
Sources inform “Globes” that Hauser sent a sharply worded letter today to the members of the TASE board, in which he alleges that Bronfeld has failed in his task, and demands that the TASE chairman should not be on the search committee for a new CEO, on the grounds that this would be contrary to good corporate governance. “Globes” has also been informed that Bronfeld, who has been with the TASE for 28 years and has been chairman since 2006, replied in a letter of his own charging that Hauser was trying to deflect criticism of the performance of the ISA, which he claims bears heavy responsibility for the state of the capital market and the dwindling trading volumes on the stock exchange.
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