Zim Integrated Shipping Services Ltd. president and CEO Doron Goder stated the reason for his decision as, "Differences in approach on subjects related to Zim's adaptation to the global economic crisis."
Zim Integrated Shipping Services Ltd. president and CEO Doron Goder Monday told Israel Corp. controlled by Sami and Idan Ofer that he is leaving his post. He stated the reason for his decision as, "Differences in approach on subjects related to Zim's adaptation to the global economic crisis." Goder will remain at the helm of Zim until a replacement is found. There are reportedly no external candidates for the job and he may reportedly be replaced by a temporary acting CEO from within the company.
In recent months, Zim has been confronting the worst crisis in its history caused by the global recession and the Israeli shipping company's aggressive campaign to acquire new ships worth $3.2 billion.
The company is expected to report a loss of between $200-250 million in 2008 and rating company Ma'alot recently lowered its rating to BB+.
Goder became president and CEO of Zim in 2005.
Israel Corp.'s shares fell 7% on the TASE on the news that Goder was leaving.
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