Delek CEO to resign after over 30 years of service

The current CEO of Israel’s Delek Group has decided to retire from the company after serving in various functions at the company for more than 30 years.

Asaf Bartfeld; Image source: Delek

Delek said on Wednesday that the company’s chief executive Asaf Bartfeld would retire at the end of 2019.

According to the company, Idan Wallace, the current deputy CEO, was appointed as the new chief executive officer beginning on January 1, 2020.

Bartfeld has held a number of senior positions at Delek Group during his time at the company, including CFO. He also currently serves as chairman or director of several Delek Group subsidiaries and affiliates.

As for Wallace, he is the CEO of Tshuva Group, a group of private companies owned by Yitzhak Tshuva, the controlling shareholder of Delek Group.

Since 2010, he served as a strategic advisor to the CEOs of Delek Energy, Delek Drilling, and Avner Oil Exploration. Wallace also serves as a director in a number of companies in the energy, real estate, and media sectors.

IIn related news, it is worth noting that Noble Energy, Delek, and EGAS are nearing the completion of the acquisition of a gas pipeline linking Israel and Egypt, which will serve as a transport route for gas from Israel’s Tamar and Leviathan offshore gas fields to Egypt.

The company also recently received an offer from an unnamed investor for a potential investment of up to $250 million into its North Sea focused subsidiary Ithaca Energy.


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Posted on November 28, 2019 with tags , .

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