On March 13, 2019, Israel Corporation Ltd. (IC) announced that its Board of Directors has decided on updating the business strategy of the Company. In connection with updating the business strategy, the company will make changes in its management team. Mr. Avisar Paz will finish his role as the CEO of the Company and will continue to serve as a director in both ICL and ORL, and Mr. Yoav Doppelt will be appointed as the CEO of the Company and will lead the updated strategy in parallel to his position as Chairman of the Board of ICL. The date of Mr. Avisar Paz's termination of office and Mr. Yoav Doppelt's beginning of office is expected to take place during the second quarter of 2019.