Bank Leumi president and CEO Galia Maor notified the bank's board of directors Sunday that she will step down during the second quarter.
Maor, who will turn 69 in February, has been Bank Leumi's CEO since August 1995, and will have served for nearly 17 years when she leaves. Chairman David Brodet will set up a search committee to recommend her successor.
"Today, after management has completed the multi-year plan, and now that I am sure of the current team's ability to successfully implement the plan, the time has come for me to step down," said Maor in a statement.
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