ZIM Integrated Shipping Services Ltd. announced that its Chief Executive Officer, Rafi Danieli, has informed the Company's Board of Directors that he wishes to resign from his role as Chief Executive Officer of the Company.
ZIM said that Danieli will continue to serve as CEO until a new CEO is appointed in order to help ensure a smooth transition. During such time, Danieli will remain fully committed to execute the Company's strategic plan and 2016 work plan.
Danieli has been with Zim for 38 years and was appointed chief executive seven years ago.
The Company's Board of Directors has nominated a committee to lead the search for a new CEO of the Company. The Board of Directors and Danieli have further agreed that Danieli will serve as an active advisor to the company following the appointment of the new CEO, subject to the approval of a detailed agreement.
ZIM’s BoD explained “Rafi’s request to leave his service as CEO came after working in ZIM for 38 years, of which he served as CEO for seven years, and during which time he led broad structural changes in the company and two complex financial restructurings. During his service, the company has moved from making operational losses to an operational profit, with operating margins higher than the industry average.”