Eli Cohen, CEO of the Mekorot national water company, announced Tuesday that he will step down as head of the company at the end of February after four-and-a-half years as CEO.
During his tenure, the company recorded significant achievements, including reform and completion of an efficiency plan and needed structural changes in the water economy. Investments in the development program doubled to NIS 1.5 billion a year, a variety of Mekorot assets were sold to reduce water costs for the benefit of Israeli citizens, and the company’s equity increased by 11%. After its listing on the stock exchange, the company raised NIS 3b. for strategic development plans, launching an innovation unit and entry into start-ups with an investment totaling half a billion shekels.
Mekorot’s international activity developed and accelerated under Cohen’s leadership, with an emphasis on promoting historic agreements with India, the Kingdom of Bahrain and other countries, as well as major infrastructure activities, including the new national carrier, the fifth water supply system to Jerusalem, and connecting the Jordan Valley and remote areas to the national carrier.
“I would like to thank the Mekorot workers, the professionals and the dedicated people, who in recent years have become my second family working day and night in the revolution that has taken place at Mekorot,” Cohen said. “Mekorot today is one of the best national water companies in the world, and I am certain that greater successes lie ahead. It was a great privilege for me to lead the company in such a challenging period, and I end my role with great pride in what we managed to accomplish.”