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Israeli Givot Olam Oil Exploration Ousts CEO Tovia Luskin

Givot Olam has appointed Giora Eiland acting CEO.

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Tovia Luskin

Givot Olam Oil Exploration LP (TASE:GIVO.L) CEO Tovia Luskin has been fired on Tuesday evening. The company notified the TASE. Givot special consultant IDF Major General (res.) Giora Eiland has been appointed acting CEO.

The company said that official reason for his ouster was “disagreements with and dissatisfaction of the board of directors about his performance as CEO.”

Luskin is a co-founder of the company with diamond trader Nogah Ben-David and Adv. Shmuel Laurence Becker and he began serving as Givot CEO on August 13, 2010. Now, after 20 years, his partner become involved in the company’s management and made their first decision : to show Luskin the door out even before pre-dismissal hearing.

Givot Olam is the only oil and gas exploration firm to have discovered commercial quantities of oil onshore Israel.

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