Mizrahi-Tefahot’s Board of Directors has elected Mr. Moshe Lari as the CEO of the bank

Mizrahi-Tefahot’s Board of Directors has elected Mr. Moshe Lari to replace Mr. Eldad Fresher as the CEO of the bank

The Board of Directors has adopted the recommendation of the CEO search committee, headed by bank Chairman Mr. Moshe Vidman; the appointment will come into effect during the second half of September.

Mizrahi-Tefahot’s Board of Directors has today adopted the recommendation of the CEO search committee, headed by the bank’s Board of Directors Chairman, Mr. Moshe Vidman, that Executive Vice President and Head of Financial Division, Mr. Moshe Lari, shall be appointed to the position of Mizrahi-Tefahot’s next Chief Executive Officer. Mr. Lari will be replacing Mr. Eldad Fresher, who has announced his intention to resign from the bank in the coming months.

Chairman Moshe Vidman reported to the members of the board of directors that the search committee, which he headed, worked in a thorough, comprehensive and discrete manner, meeting with several candidates who were appropriate for the position of the CEO. At the end of the process, the committee decided to recommend Moshe Lari to the position of the bank’s next CEO, thanks to his skills, him being a key part of the bank’s success in recent years, the variety of roles he has fulfilled at Mizrahi-Tefahot throughout the years and his involvement in a series of strategic issues and cross-organization operations.

“The members of the search committee were deeply impressed by Moshe Lari’s multiple capabilities, his rich experience and his substantial contribution to the bank’s achievements to this very day, as well as his views on the challenges of the future and Mizrahi-Tefahot’s directions of action on the road ahead. We are certain of his ability to lead the bank, along with our thousands of excellent employees and managers, towards significant success in the coming years as well”, said Moshe Vidman.

Moshe Lari began his work at the Mizrahi-Tefahot group over 20 years ago, first at Tefahot Bank and as of 2005, at the merged bank. In 2009, he was appointed as Executive Vice President and a member of Mizrahi-Tefahot’s board of management, serving, among other roles, as CRO and Head of the Accounting Division; Head of the Planning, Operation, Customer Assets and Consultation Division; and in recent years, as Head of the Financial Division.

Mr. Lari is expected to take office during the second half of September, subject to the approval of the Bank of Israel.