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EL AL Chief Financial Officer Nissim Malki Announces his Decision to Retire

EL AL Chief Financial Officer Nissim Malki today informed EL AL's CEO of his decision to retire after 41 years with the airline. Malki has been EL AL's CFO since 2003 and will end his term of office as soon as a successor is named and an orderly transition has taken place.

EL AL CEO Elyezer Shkedy relates: “I respect Nissim Malki’s decision to retire. Throughout his years of service at the airline, 41 years, Nissim Malki has demonstrated professionalism and great dedication to the airline and to his position.”

EL AL CFO Nissim Malki has announced his decision to retire. Malki (67) joined EL AL 41 years ago, as a student, and rose through the managerial ranks, including positions in Israel and overseas, until attaining his present position as CFO in 2003.

Malki was involved in all of the airline’s important processes, from the time that EL AL was a government company through its transformation into one of the strongest and most highly regarded brands and public companies in the Israel economy.

During his tenure in the airline, Malki participated in and led many operations and transactions that secured the airline’s financial and commercial position, noteworthy among them, the financing of the airline’s purchases of aircraft, raising capital in the American market, hedging fuel and exchange rates, managing market risks for the airline, coordinating processes for purchasing new aircraft and maintaining connections with EL AL's capital market and stockholders.

In a missive to EL AL employees EL AL CEO Elyezer Shkedy noted:

“On behalf of the airline’s Board of Directors, the airline management and employees, I would like to thank Nissim for his great contribution to the company throughout his years of service, for his excellent management of the financial division, whose contribution is evident in all of the airline’s operations, and for his uncompromising professionalism, his great dedication to his position and to the airline. I have great regard for Nissim’s professional performance and on behalf of all of us I wish him great success in his new endeavors.”   

EL AL Chairman of the Board Amikam Cohen warmly thanked Nissim Malki for his professional and dedicated work, for his incisive familiarity with all the issues the airline has dealt with in recent years and for his ability to find solutions to difficult situations throughout his years with the airline.

Nissim Malki wrote in his letter of resignation:

“Today I notified the CEO of my decision to retire after 41 years of service with EL AL.  In the past I had submitted my request to retire but EL AL CEO Elyezer Shkedy rejected it. Everything that was accomplished during my period of service with EL AL was made possible only thanks to the amazing talented people with whom I worked and whom I had the privilege of leading and working with throughout the years, and to the members of the Board of Directors, my colleagues in management and the support of EL AL CEO Elyezer Shkedy. Working under Shkedy’s leadership was a tremendous experience for me and I am grateful to have had the privilege of working with him. I leave EL AL in good financial condition and am certain that the airline’s people and management are capable of bringing it to ever higher heights.”   

 

 
Publish Date 02/02/2014