ZIM CFO Resigns Amid Major Leadership Restructuring

A dramatic week in the corridors of ZIM. Just days after the resignation announcement of CEO Eli Glickman, the Israeli shipping giant announced today (April 23) the departure of its Chief Financial Officer, Xavier Destriau.

Destriau will conclude his role in approximately six months, and his position will be filled by Sami Joubran, a highly regarded figure within the organization who currently serves as Vice President of Financial Planning and Analysis (FP&A).

The timing of Destriau's departure is not surprising, as it completes the structural change at the company's helm ahead of the planned merger with Hapag-Lloyd. Destriau played a key role at ZIM's most critical junctions over the last decade: he led the company's Initial Public Offering (IPO) on Wall Street in 2021, managed the fleet renewal strategy, and was responsible for managing the historic profits and dividends distributed by the company in recent years.

CEO Eli Glickman, who is himself in a notice period, welcomed Joubran's appointment and noted that it is a choice that ensures business continuity. "Xavier's contribution has been invaluable; he led ZIM to important milestones with dedication and deep financial insight," Glickman stated. "The appointment of Sami Joubran, who brings financial expertise and a thorough understanding of ZIM's strategy, ensures robust financial leadership in the company's next chapter."

Sami Joubran, Destriau's successor, is a "ZIM man" in every sense of the word. He joined the company in 2007 and has held a series of senior positions in Israel and abroad. In his current role as Vice President of Financial Planning and Analysis (FP&A) and Budget Control, he was responsible for managing the company's financial performance. Joubran is a Certified Public Accountant (CPA), holding a Bachelor's degree in Economics and Accounting from the University of Haifa and an Executive MBA from Bar-Ilan University.

The selection of Joubran, an internal candidate with nearly two decades of seniority, is seen as an attempt by the Board of Directors to signal stability to the markets and employees, especially against the backdrop of the leadership shakeup and the expected transition to the new ownership structure under Hapag-Lloyd and the FIMI Fund.

Leadership Changes at ZIM: Summary of Financial Management Shifts