JERUSALEM, Nov 21 (Reuters) - Avi Gabay, the chief executive
of Israeli telecom group Cellcom, announced his resignation, the
company said on Sunday.
No date for the end of his tenure was set.
Gabay took over as CEO of Cellcom, Israel's largest mobile
phone operator in January of 2020. Since then, the company
bought smaller rival Golan Telecom, which boosted its subscriber
"We have recently managed to get it back on track for
investment and profitability. Now is the time for me to take on
new challenges," Gabay said in a statement.
Cellcom last week had reported it moved to a profit of 13
million shekels ($4 million) in the quarter, versus a 37 million
shekel loss a year earlier. Revenue rose 4% to 994 million
shekels, helped by increased roaming charges with COVID-19
restrictions on tourism slowly easing.
Like its peers, Cellcom has been pressured in recent years
by intense competition in the mobile sector while the
coronavirus pandemic hurt revenues from roaming services of
customers travelling overseas as well as roaming services of
tourists travelling to Israel.
As of September, Cellcom had 3.246 million cellular
subscribers, 300,000 Internet customers - 123,000 of those
connected to its fibre network - and 250,000 TV subscribers.
(Reporting by Steven Scheer; Editing by Michael Perry)