Article: Sanbar out, Friedmann in as Africa Israel chairman

GALIT LIPKIS BECK
Jerusalem Post
02-06-1995
BANK Leumi general manager David Friedmann will take over from Leumi's chairman Moshe Sanbar as head of Africa Israel, the bank's board of directors decided yesterday.

The board discussed the issues raised at last week's Knesset Finance Committee meeting in a stormy session.

"The board is displeased with the reasons for the worsening in relations between Africa Israel general manager Shlomo Grofman and Sanbar, which has led to Sanbar's resignation," a press release said.

At the meeting, the directors reportedly criticized Sanbar's failure to inform them of activities associated with plans to sell Leumi's share in Africa Israel, the bank's ...

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