Cellcom Israel (NYSE:CEL) is getting a new CFO.
Following the company's successful merger with Netvision, current Chief Financial Officer Yaacov Heen is declaring his mission accomplished, and says he intends to resign his post on Sept. 17 after 16 years with the company. At that time, Cellcom says it will bring on Shlomi Fruhling, the former VP for strategy and finance at Netvision, to become the merged company's new CFO on Sept. 18.
Cellcom Israel CEO Nir Sztern praised Heen, saying he has "been Cellcom Israel's CFO for the last four years, at which time he has led three very successful debenture offerings ... led the negotiation of strategic transactions, including the Netvision merger, Dynamica's operations and national roaming services agreement with Golan Telecom and led the initiation, design and implementation of cutting edge financial and management information systems."
Heen's replacement, Fruhling, has been assisting the company with projects since leaving Netvision and taking up a position at Discount Investment Company. Now he will be coming back in-house, and rejoining Sztern, with whom he previously worked at Netvision.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.