El Al's chairman Prof. Izzy Borovich announced his intention to resign

Prof. Borovich will be replaced by Lt. Gen (res.) Amnon Lipkin-Shahak, who has served as a director of the airline since its privatization
 
Following the announcement made early this month by El Al chairman Prof. Izzy Borovich that he intend to resign his post, the company's board of directors issued a statement that, "it is to be hoped that the intention of El Al chairman Prof. Izzy Borovichto resign at the beginning of December 2008 will introduce some quiet into the company's management”. Prof. Borovich will continue to serve as board member.
 
Prof. Borovich's resignation came as no surprise and marked an additional phase in the complex relationship between Izzy Borovich and his twin brother Dedi.
 
It is understood that Prof. Borovich will be replaced for the time being by Lt. Gen (res.) Amnon Lipkin-Shahak, who has served as a director of the airline since its privatization. No official statement has yet been issued regarding Lipkin-Shahak.
 
The board of directors have also decided to nominate Mr. Yehuda Levi as deputy chair in addition to Dedi Borovich's wife Tami Mozes, who serves as deputy chair.