ICL Group Ltd (ICL) Earnings Call Transcript & Summary

Good morning, everyone. My name is Aya Landman. I'm ICL's Chief Compliance Officer and Corporate Secretary. With me today is Advocate Lee Botvin, Head of Corporate Secretariat in ICL. Today, we will be joining to discuss the items on the agenda of the Extraordinary General Meeting of ICL shareholders. So happy to have everyone with us this morning. Today on the agenda, we have four items that all relate to compensation issues. The two first items relate to the compensation terms of our newly appointed President and CEO, Mr. Elad Aharonson, who as of March 13, will be replacing our departing CEO, Raviv Zoller. In this general meeting, our shareholders were requested to approve the compensation terms of Elad Aharonson as well as the grant of an equity-based compensation for the next 3 years for Mr. Elad Aharonson. Currently, according to all of the votes that we've already received, we have a very high approval rate number of our disinterest shareholders. The two other items on the agenda relate to the compensation terms of our Executive Chairman of the Board, Yoav Doppelt. Yoav Doppelt, he is the Executive Chairman of the Board, and related to our controlling shareholder, being the CEO of our controlling shareholder. Under Israeli law, in these circumstances, we need to renew the approval of his terms every 3 years, as a related party transaction. So the proxy statement provides a full disclosure of the renewed compensation terms, which are substantially similar to those approved by shareholders in 2022, mainly with the only change of linking his terms to the increase in the CPI as of 2022. And the fourth agenda item is also for him, the approval of an equity-based compensation in the form of options for the next 3 years. Again, according to the votes we've received thus far, and we do not anticipate any material changes even if we will receive a few additional votes, we have very high approval rates with this -- for these items as well. This is it for us. We have received powers of attorney to represent our certain shareholders, including our controlling shareholder, and this is why we are chairing this meeting. So if there are any additional questions or comments, we would be happy to answer, otherwise, we can adjourn. So we will give a minute or two for questions, otherwise, we will close the meeting. Thank you very much. Lee, anything else to add?

No, thank you. Do not -- if you're trying to speak, all of you, kindly unmute.

If you have anything to say, please take yourselves off of mute. You can also reach us via the chat if you need any assistance. Okay. So it was very nice to host all of you this morning. Thank you for providing your votes, and we will issue an immediate report with the voting results later today. Thanks, again. The meeting is adjourned.

Thank you.