Jacob Perry, the president of the Cellcom mobile phone company, is expected to resign shortly after failing to reach an agreement with the company on his employment terms, TheMarker has learned.

Sources close to the talks estimate that Cellcom's board has already chosen a replacement for Perry. But the identity of the replacement has not been divulged, even at the highest echelons of the company.

The same sources surmise that the board, headed by Shlomo Piotrkowsky, is already seeking a new marketing manager to replace Oren Most.

Most is expected to leave with Perry after the board apparently evinced little inclination to have him replace the outgoing CEO.

One man named as a possible replacement for Perry is Rami Balinkov, with whom talks had already been held. Balinkov currently runs Golden Lines, an international calls carrier. He even flew to the United States to receive the blessing of Cellcom shareholder BellSouth, but upon his return announced that he did not want the job after all.

Balinkov remains a contender to manage the cable television company slated to be formed by a merger of Israel's three cable TV companies.

Capital market players surmise that Shlomo Liran, CEO of the Yes satellite company, and Partner Communications (Nasdaq, TASE:PTNR, LSE:PCCD) manager Amikam Cohen are also possibilities. Other names mentioned include Ami Segis and Ami Erel.

In his seven years leading Cellcom, Perry made it the only profitable Israeli mobile communications company. Although he was supposed to step down on May 1, he agreed to stay on for a while until a suitable replacement is found.