TEL AVIV, Sept 9 Israel Chemicals (ICL)
Chief Executive Officer Stefan Borgas asked the board of
directors to accept his resignation on a date to be agreed upon,
the company said in a statement on Thursday night.
Chairman Johanan Locker and the board accepted Borgas'
request and will begin a search for a new CEO.
"Borgas will be available to the company to transfer his
role in a proper way", the statement said.
German-born Borgas, 52, was nominated in September 2012.
"After four successful years of leading ICL through a
historically dramatic downturn of the commodity industry, I feel
that it is time for me to move the centre of my life back to
Europe," he said.
ICL, a subsidiary of Israel Corp, is one of the
three major suppliers of potash to China, India and Europe.
(Reporting by Tova Cohen; Editing by Bernard Orr)