Zim has announced Dr. Chen Lichtenstein as its new President and CEO as the NYSE-listed continues to move forward on a merger with Hapag-Lloyd.
The new chief comes in at time when Zim is in the process of a $4.2 billion deal to merge with Hapag-Llyod
Lichtenstein will take over from Eli Glickman on 1 July, who announced he was standing down from the role on 15 April.
Lichtenstein has a diverse background of non-shipping related senior management roles. Between 2020 and 2023 he was CFO for agri-tech company Syngenta having previously been the CEO of ADAMA prior to its merger with Syngenta in 2020. Earlier in his career he worked as an investment banker for Goldman Sachs.
Yair Seroussi, Chairman of Zim’s board, stated, “Dr. Chen Lichtenstein is a highly experienced top-tier international executive, with a unique combination of extensive managerial experience, financial depth, strategic insight, and the ability to lead complex global organizations.
His broad experience in managing international companies, working with global markets, shareholders, and boards of directors, together with his judgment and experience in leading transformation and integration processes, make him the right executive to lead ZIM at this time.”
Zim is currently pursuing a merger deal with deal with Hapag-Lloyd and its shareholders have approved the $4.2 billion deal which still requires regulatory approvals. It is not clear what Lichenstein’s role would be post-merger, if the deal completes.
Lichtenstein, commented, “I thank Zim’s Board of Directors for its confidence and for the opportunity to lead a global Israeli company with a meaningful legacy, growth and business success, broad international operations, and outstanding people.
ZIM operates in a dynamic, competitive, and complex market, and I attach great importance to maintaining the Company’s stability, strengthening its performance and business capabilities, and continuing to create value for customers, employees, partners, and shareholders.”
