Nearly 3 million shekels without bonuses: Yanki Koint's terms at Teshuva

Yanki Koint, former director of the Government Companies Authority and chairman of the Israel Land Authority, is expected to take up the position of chairman of NewMed Energy with an annual salary cost of approximately 2.8 million shekels. CEO Niv Sarna will enjoy a salary of 4.5 million shekels.

Yanki Koint, former director of the Government Companies Authority and chairman of the Israel Land Authority, is expected to take up the position of chairman of NewMed Energy, controlled by the Delek Group of Yitzhak Teshuva, this week. His employment terms include a monthly salary cost of 144,000 shekels (70% position), options worth 3 million shekels vesting over three years, and an annual bonus of up to 560,000 shekels. His total annual salary cost is estimated at about 2.8 million shekels. Alongside this, the partnership will seek approval for the terms of the new CEO Niv Sarna, who took up the position in August, including a monthly salary of 260,000 shekels and options worth 4.2 million shekels, at an annual cost of about 4.5 million shekels. The partnership notes that the terms are appropriate given the qualifications and experience of the two. NewMed holds 45% of the Leviathan reservoir and is traded at a value of about 19 billion shekels.