Ady Gelber, the president and CEO of Isram
World of Travel until last spring, returned to the company offices
in New York Jan. 4 as its majority shareholder, executive chairman
and CEO.
When Gelber's
management contract expired on March 31, 2006, the company's
previous owner, Koor Corp., declined to extend the contract due to
disagreements between the two parties, Gelber said.
However, he
continued to be a minority shareholder and a board member of the
$60 million tour business, and he had the right of first refusal if
the company were put on the block.
Since then, Gelber
said, Koor itself was acquired by new owners, and they opted to
sell Isram.
Gelber closed on
his deal on Dec. 28, taking over 100% of the business. He then sold
30% of the business to the managing director of Isram Israel,
Shaanan Kraus in Tel Aviv.
In New York, Gelber
said Dov Koniak is staying on as president.
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