Kenon announces Barak Cohen intends to step down as co-CEO
Kenon Holdings announces that Barak Cohen, Co-CEO of Kenon, has informed the Board of Directors of Kenon of his intention to step down as Co-CEO, with effect from September 1. Mr Cohen has been appointed as a member of the Board of Directors of Kenon, with effect from the date of his resignation as Co-CEO. Mr Cohen will also remain a director of Kenon's subsidiary OPC Energy Ltd and Qoros, in which Kenon has a 24% interest.Mr Cohen's transition from day to day management of Kenon as Co-CEO to a Board level supervisory role follows the positive developments in Kenon's businesses in the past twelve months, which have changed the scope of Kenon's businesses. These developments include the transactions related to the new investor in Qoros, the sale of the Inkia power businesses and the IPO of OPC Energy Ltd, all in furtherance of Kenon's strategy. The Kenon Board of Directors thanks Mr Cohen for his service as Co-CEO and welcomes him to the Board. Mr Robert L. Rosen, who is currently Co-CEO of Kenon, will remain as CEO of Kenon following Mr Cohen's resignation.