ZIM CEO steps down as Hapag-Lloyd merger approaches

Eli Glickman, the President and CEO of Israeli container shipping company ZIM has announced his forthcoming resignation.

"Today, I informed ZIM’s Board of Directors of my decision to step down as President & CEO. I will continue to serve in my role over the next six months to support a smooth and orderly transition," Mr Glickman said in a post on Facebook.

In his post, Mr Glickman referenced the US$4Bn acquisition of ZIM by German liner major Hapag-Lloyd, which came less than a year after Mr Glickman initiated proceedings to launch a bid for ZIM with Israeli shipowner Abraham Ungar. The bid failed, with the company board pointing to a low offer.

"In recent months, the Board promoted a merger process with Hapag-Lloyd. While I respect this direction, after careful reflection, I concluded that I cannot continue as CEO. Leadership, to me, is not a title – it is a commitment that must align with the road ahead," Mr Glickman said.

"When I joined ZIM nine years ago, I did so with a clear sense of purpose. I believed in this Company, in its people, and in our ability to transform ZIM into a stronger, more innovative, and more resilient global player. Together, we did exactly that."

The company posted about the resignation on its LinkedIn page, noting that it has launched a search for his replacement and pointing to the strong performance of the company under Glickman’s leadership.

"Over these years, ZIM delivered an extraordinary turnaround, achieving results that were, at times, unprecedented for the company and restoring pride in the ZIM name across the industry. This success belongs to our people – colleagues across the globe who demonstrate professionalism, determination, and heart every single day."

ZIM employees underook strike action in the wake of the announced acquisition of ZIM by Hapag-Lloyd.