'Email War': Israel Tech Startup Announces New CEO, Current Boss Refuses To Leave, Then...
Power Struggle at Israel’s Glassbox
Uri Haramati, CEO of Israel tech startup Glassbox, unexpectedly announced his resignation in December 2022. The announcement did not include the name of his successor. Then, on January 3, the company announced Yaron Morgenstern would take over as CEO on March 1.
Haramati, however, sent an email to employees the same day stating he had no intention of leaving. He went on to say that Glassbox had breached his contract by attempting to replace him without his consent and that he intended to continue as CEO.
Glassbox is a publicly traded company that develops software that analyzes customer behavior on websites and mobile apps. It has a market capitalization of around $1.4 billion.
The Legal Battle Begins
Haramati filed a lawsuit against Glassbox in the Tel Aviv District Court on January 4. The lawsuit alleges that the company breached his contract by attempting to replace him without his consent and that he is entitled to remain as CEO until his contract expires in 2025.
Glassbox has denied the allegations and has filed a countersuit against Haramati. The company alleges that Haramati breached his contract by refusing to leave his position and that he has caused damage to the company.
The Power Struggle Continues
The power struggle between Haramati and Glassbox is expected to continue in court. The outcome of the legal battle will determine who will lead the company in the future.
The case is being closely watched by other Israeli tech startups. It could set a precedent for how companies handle CEO transitions in the future.
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Additional Information
- For more information, visit Glassbox’s website.
- For more information on the lawsuit, visit the Tel Aviv District Court website.
Sources
- [1] "Glassbox CEO Refuses to Leave After Company Announces His Resignation." Globes, January 4, 2023. https://www.globes.co.il/en/article-glassbox-ceo-refuses-to-leave-after-company-announces-his-resignation-1001433951.
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