Gilad Erdan, Israel’s former ambassador to the UN, is expected to be appointed chairman of Israel Aerospace Industries (IAI) in November after Amir Peretz’s three-year term ends. It’s a decision Defense Minister Yoav Gallant favors after conducting a series of interviews with candidates for the position.
Last week, Erdan Magen was appointed as the global president of David Adom, where he will be responsible for promoting emergency healthcare worldwide and representing it in international forums. Before becoming the ambassador to the UN, Erdan served as the minister of internal security, minister of strategic affairs, minister of the internal front and minister of regional cooperation.
RELATED ARTICLES
Gov’t Cos Authority chief demands progress on IAI flotation
IAI lands $1.9 billion G2G contract with Defense Ministry
Erdan was appointed ambassador to the UN in July 2020 and held this position until August 20 this year. During his tenure at the UN, he had to contend with the influence of the BDS (boycott, divestment, sanctions) movement and the diplomatic maneuvering of anti-Israel countries, especially after the outbreak of the Iron Swords war.
Erdan will receive IAI in the best condition. In the first half of this year, the state-owned company made the highest profit in its history and increased by 78% compared to the first half of 2023, reaching $294 million. First-half sales were up 12% to $2.85 billion, and EBITDA was up 37% to $451 million compared to the first half of 2023.
Assuming the appointment is confirmed, the chairmen of Israel’s two largest state defense companies, IAI and Rafael, will be former Likud ministers: Erdan and Yuval Steinitz. In response to the news, the office of the Minister of Defense said: “The issue of the appointment of the IAI chairman has not yet been finalized, the decision will be made soon.”
Globes, Israel business news – en.globes.co.il – published on September 8, 2024.
© Copyright 2024 by Globes Publisher Itonut (1983) Ltd.
