EXECUTIVE SUSPENDED
(N.Z.P.A.-Reuter —Copyright) PARIS, Oct. 1. Baron Edmond de' Rothschild and the Israel! Corporation board of which' he is chairman have sus-1 pended one of their senior, executives pending in-! vestigations into financial difficulties involving a Gen-1 eva-based credit bank. Mr Michael Tsur, manag-ing-director of Israel Corporation in Tel Aviv, was suspended after an extraordinary meeting of the board, which will meet again in 10 days to hear the findings of an investigating committee. The corporation handles investments aiding the development of Israel’s economy.
“The situation is not dramatic,” a corporation spokesman said. “At worst, it may affect future dividends”. The corporation has been hit by the difficulties facing Dr Tibor Rosenbaum, the head of the Geneva-based International Credit Bank, in which the Israel Corporation has a stake.
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Press, Volume CXIV, Issue 33654, 2 October 1974, Page 7
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129EXECUTIVE SUSPENDED Press, Volume CXIV, Issue 33654, 2 October 1974, Page 7
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