In letters sent to Yisrael Katz Minister of Transport and Minister of Finance Yair Lapid, Sitterman wrote: "I wish to inform you of my intention of ending my term as executive chairman of Ashdod Port Company. I wish success to all concerned in meeting the challenges facing the Port Company."
The announcement came against the backdrop of efforts by the Government Companies Authority to remove Sitterman from the position.
Sitterman, The former director-general of the Ministry of Transportation, was elected to the post almost two years ago.
In early December 2013, Sitterman was summoned to a pre-dismissal hearing together with two other Ashdod Port directors, because of "apparent failures in the management and supervision of the port". A large part of the findings against Sitterman was based on claims raised against him by former Ashdod Port CEO Shuki Sagis, who resigned last July because of a personal dispute with Sitterman.
Sitterman, who holds a Bachelor degree in accounting and economics from the Tel-Aviv University, served as Chief Executive Officer for the Israel's Ministry of Transportation, as well as Chief Business Officer of M. Wertheim Group from 2001 until 2006. Between 1997-2000, he served as minister of economic affairs in the Israeli Embassy in London.