June 30, 2019 / 6:25 AM / 4 months ago

CEO of Israel's Bank Leumi to resign in coming months

TEL AVIV, June 30 (Reuters) - Bank Leumi Chief Executive Rakefet Russak-Aminoach will step down in the coming months after seven years as head of Israel’s biggest bank by market cap.

Her resignation will take place after the bank’s board chooses a new CEO, Leumi said on Sunday.

Russak-Aminoach, who joined Leumi in 2004 as head of the business division, did not provide a reason for her decision in a letter to the bank’s chairman, David Brodet.

But she said she decided to announce her decision before the board chooses a new chairman to replace Brodet, who is leaving Leumi after nine years.

Leumi’s chief rival, Hapoalim, has said CEO Arik Pinto plans to step down at the end of 2019. (Reporting by Tova Cohen Editing by Steven Scheer)

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