CEL - Cellcom Israel Ltd. Announces CEO Resignation and Enhanced Role for Chairman

NETANYA, Israel, Dec. 19, 2019 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (the "Company") announced today that Mr. Nir Sztern, the Company's CEO, informed the Board of Directors of his intention to resign as CEO in the near term at a date yet to be determined, and the Board of Directors nominated a committee to oversee the process for locating and selecting a new CEO.

The Board of Directors reiterated its continued commitment to the Company's previously announced restructuring plan and announced that the Company's Chairman of the Board, Mr. Ami Erel, will actively manage the CEO transition, as well as provide executive oversight of the execution of the Company's operations and its restructuring plan during the transition period.

About Cellcom Israel

Cellcom Israel Ltd., established in 1994, is a leading Israeli communications group, providing a wide range of communications services. Cellcom Israel is the largest Israeli cellular provider, providing its approximately 2.767 million cellular subscribers (as at September 30, 2019) with a broad range of services including cellular telephony, roaming services for tourists in Israel and for its subscribers abroad, text and multimedia messaging, advanced cellular content and data services and other value-added services in the areas of music, video, mobile office etc., based on Cellcom Israel's technologically advanced infrastructure. The Company operates an LTE 4 generation network and an HSPA 3.5 Generation network enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE networks. Cellcom Israel offers Israel's broadest and largest customer service infrastructure including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Cellcom Israel further provides OTT TV services, internet infrastructure and connectivity services and international calling services, as well as landline telephone services in Israel. Cellcom Israel's shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For additional information please visit the Company's website http://investors.cellcom.co.il.                                                                                

SOURCE Cellcom Israel Ltd.