MOVES: ICL appoints Stefan Borgas as new president, CEO

17 August 2012 09:44  [Source: ICIS news]

LONDON (ICIS)--ICL’s board of directors has appointed Stefan Borgas to be the group’s new president and CEO, effective 20 September 2012, the Israeli fertilizer and chemical producer said on Friday.

Borgas will succeed Akiva Mozes, who will retire after being ICL’s president and CEO for the past 13 years.

Prior to his appointment, Borgas served as CEO of Swiss-based chemicals company Lonza Group.

The appointment follows an 8-month search process carried out by a special CEO search committee with the assistance of a global executive search firm, ICL said.

On Wednesday, ICL reported that its second-quarter net income attributed to shareholders fell by 4.5% year on year to $407m (€330m) on a higher effective tax rate and financial expenses.

($1 = €0.81)

By: Franco Capaldo
+44 (0)20 8652 3214

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