Oil Refineries Ltd. appoints new chief executive officer

Oil Refineries Ltd., Israel’s largest integrated refining and petrochemical group, announced the appointment of a new chief executive officer, Aharon (Arik) Yaari.
Yaari’s last position was as senior vice president and a member of management of the pharmaceutical company Teva, which he joined in 1981. Yaari holds a B.A. degree in economics and international relations, and an M.A. in economics, both summa cum laude, from the Hebrew University of Jerusalem.
Yaari served in a variety of positions during his time at Teva, including as head of Teva Generics (2009 – 2012) and as CEO and president of Teva’s Global API Division. Previously he had been divisional vice president and president of Plantex USA.
Over the last 11 years with Teva, Yaari saw the company’s sales grow to about US$20 billion. Yaari led many major processes in the areas of investments, operations, sales, purchasing, and development, as well as the launch of hundreds of generic products and a wide range of technological fields.
Akiva Mozes, chairman of Oil Refineries stated, “The company’s board is very happy that Arik has joined the ranks of the largest refining and petrochemicals conglomerate in Israel….”
Mozes thanked Pinhas Buchris, the outgoing CEO, for his contribution to the company over the last two years, during which time Buchris led a far-reaching efficiency program and corporate restructuring. Mozes wished Buchris success in his future positions.
Oil Refineries Ltd. (ORL) is located in the bay area of the city of Haifa. It is one of the leading refineries in the Eastern Mediterranean. ORL runs state-of-the-art industrial facilities with a refining capacity of 9.8 million tons of crude oil per year. Besides production of fuels, the company produces in its wholly owned subsidiaries polymers through Carmel Olefins Ltd., aromatics through Gadiv Petrochemical Industries Ltd., and lube oils through Haifa Basic Oils Ltd.
(May 28, 2013)