The committee appointed by controlling shareholders in Bank Hapoalim to find a replacement for CEO Amiram Sivan, will announce the elected candidate in a few weeks to one month's time, TheMarker has learned.

The candidate most likely to succeed Sivan, according to estimates, is Eli Yones. Sivan will retire from his position prior to the release of Q4 and 2001 year-end results, in late March. Yones's appointment is likely to lead to the massive departure of top executives.

One candidate no longer in the running is Danny Dankner, vice chairman of the bank. Contrary to rumors, Dankner will not be able to take the CEO position because of special instructions from Bank of Israel, as he represents the Dankner family, owner of 25% of the bank's controlling stake, and 11% of its share capital. The bank's chairman is Shlomo Nehama, who represents Arison Holdings, the bank's controlling shareholder.

Scott Shea, a member of the committee appointed to choose a replacement for Sivan, is due in Israel at the end of the month in order to approve the choice. Shea is on the committee with Nehama, Shari Arison, Danny Dankner and Amiram Sivan himself.

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The Arison group stated "the bank makes no reference to such issues. It works according to its own schedule, and provides no details of such matters."