ZIM Announces Board Reshuffle

ZIM Integrated Shipping Services announced yesterday the resignation of two of its board members, Yoav Sebba and Yair Kaspi.

In their place, two new members have been appointed to the board, Dr. Yoram Turbowicz and Mr. Yair Avidan. The appointments are valid until the next annual shareholders' meeting, expected to be held in December 2025. ZIM's board has decided to recommend to the company's shareholders to re-elect the directors appointed at the next annual meeting.

Dr. Yoram Turbowicz has held regulatory, management, and senior directorial roles in the Israeli market over the last three decades. Among other roles, he served as the General Manager of the Competition Authority from 1992-1997, as Deputy CEO and CEO of Discount Investment Group from 1997-2001, as Head of the Prime Minister's Office from 2006-2008, and as Chairman of the Board of Directors of Azorim from 2008-2012 and Delek Energy from 2010-2012. In recent years, he served as Chairman of Discount Investments and Property and Construction, and as a director at Cellcom from 2020-2021. Dr. Turbowicz holds an LL.B degree from the Hebrew University of Jerusalem and LL.M and JSD degrees from Harvard Law School.

Yair Avidan has held regulatory, management, and senior directorial roles in the Israeli market, primarily in the financial services sector, for over thirty years. Among other roles, he served as the Supervisor of Banks and a member of the Board of Directors of Bank of Israel from 2020-2023, and in senior management roles at Discount Bank from 1998-2019. He currently serves as a director at Bank Hapoalim and Modiin Energy, as well as in leadership roles in non-profit organizations. Mr. Avidan holds a bachelor's degree in Statistics and Economics, an MBA in Finance and Accounting, and a master's degree in Leadership and Management of Education Systems - all from Tel Aviv University.

ZIM's Chairman of the Board, Mr. Yair Seroussi, said: "We warmly welcome Dr. Yoram Turbowicz and Yair Avidan to ZIM's board. We are proud and delighted to have two directors with such impressive experience and extensive knowledge in company management join us. The expertise of Yoram and Yair will greatly contribute to ZIM's success. I would like to thank Yoav Sebba and Yair Kaspi for their professional and dedicated service over the years and for their significant contribution to the company's success during their tenure."