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Israel’s Cellcom CEO to resign after nearly 2 years in post

Avi Gabay, the chief executive of Israeli telecom group Cellcom, announced his resignation, the company said on Sunday.

No date for the end of his tenure was set.

Gabay took over as CEO of Cellcom, Israel’s largest mobile phone operator in January of 2020. Since then, the company bought smaller rival Golan Telecom, which boosted its subscriber base.

“We have recently managed to get it back on track for investment and profitability. Now is the time for me to take on new challenges,” Gabay said in a statement.

Cellcom last week had reported it moved to a profit of 13 million shekels ($4 million) in the quarter, versus a 37 million shekel loss a year earlier. Revenue rose 4% to 994 million shekels, helped by increased roaming charges with COVID-19 restrictions on tourism slowly easing.

Like its peers, Cellcom has been pressured in recent years by intense competition in the mobile sector while the coronavirus pandemic hurt revenues from roaming services of customers travelling overseas as well as roaming services of tourists travelling to Israel.

As of September, Cellcom had 3.246 million cellular subscribers, 300,000 Internet customers – 123,000 of those connected to its fibre network – and 250,000 TV subscribers. Reuters

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