Doron Golder, Zim President and CEO Steps Down

Israel Corp., mother company of Zim Integrated Shipping Services, announced last week the termination of employment of Zim’s CEO Doron Goder. Goder became president and CEO of Zim in 2005.
 
Goder, according to the announcement, stepped down as president and CEO of the shipping company due to ‘differences in approach relating to Zim's plans in view of the global financial crisis’. Mr Goder said that he had disagreed on how to cope with the current financial crisis.
 
In a later statement ZIM Integrated Shipping Services, appointed 57-year-old Rafi Danieli as president and CEO as the container carrier. Mr Danieli, a 31-year veteran at Zim, has served as CFO for 12 years and deputy CEO for three.
 
In recent months, Zim Integrated Shipping Services has been confronting the worst crisis in its history caused by the global recession and the Israeli shipping company's aggressive campaign to acquire new ships worth $3.2 billion.
 
Zim is now seeking better terms from Korean shipyards, hoping to stop or delay orders for several container ships including nine TEU12,500.
 
The company is expected to report a loss of between $200-250 million in 2008 Israel Corp.'s shares fell 7% on the Tel Aviv Stock Exchange on the news that Goder was leaving.