Israeli flag carrier El Al has named its new Chief Executive (CE), Avigal Soreq, the successor of Gonen Usishkin, who is to step down next January. Avigal Soreq is the Chief Operating Officer (CEO) of Delek US Holdings, an American energy firm specialising in petroleum refining and logistics assets.
Delek US Holdings is based in Brentwood, Tennessee, to the south of the city of Nashville. It has purchased innumerable refining facilities and companies since its foundation in 2001. The company has the capacity to process 302’000 barrels of crude oil a day and has most of its refineries in the State of Texas, where a large amount of crude oil can be found. Texas is a state with many ressources, including helium (a rare gas that was used in early liquid-fueled rockets and that cannot merge with another atom to become a molecule) and other natural gases.
Avigal Soreq is to officially succeed Gonen Usishkin on the 31st of January. He served in the Israeli Air Force between 1996 and 2004, becoming a major. Before his position of CEO at Delek US Holdings, he also worked for California-based SunPower Corporation, that designs and manufactures solar panels. It is mainly owned by Total (an oil and gas company)… a bit contradictory!
El Al’s losses for Q3 (3rd quarter) amount to $148 million, pre-tax. Soreq’s arrival is expected to stabilise the company’s financial situation. 26th of November 2020.