Bloomberg News

Cellcom Drops to Lowest in a Week After CEO Shapira Steps Down

October 26, 2011

Oct. 26 (Bloomberg) -- Cellcom Israel Ltd. fell to the lowest level in more than a week after the country’s largest mobile-phone company said Chief Executive Officer Amos Shapira will step down on Dec. 31.

The shares slumped 1.3 percent to 78.95 shekels at 11:56 a.m. in Tel Aviv, the lowest intraday since Oct. 18.

Nir Sztern was nominated by the company’s board to succeed Shapira.

To contact the reporter on this story: Susan Lerner in Jerusalem at slerner2@bloomberg.net

To contact the editor responsible for this story: Gwen Ackerman at gackerman@bloomberg.net


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