Revenues and net profit both took a fall at Cellcom Israel (NYSE:CEL) in Q2. For the quarter, the company's top line was 1.2 billion shekels ($342 million), broadly in line with analyst expectations, against the nearly 1.5 billion shekels ($414 million) in the same period the previous year. Net profit came in at 67 million shekels ($18.5 million), compared with Q2 2012's 121 million shekels ($33.4 million).

Cellcom Israel also announced that it replaced its chief technology officer. Effective Nov. 1, the new man holding the position will be Ron Shvili. He will take over from Eliezer Ogman, who has resigned. Shvili honed his skills in the public sector in the Israeli Defense Forces and at the country's Ministry of Defense.

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