NewMed Energy (TASE: NWMD) CEO Yossi Abu has announced that he will step down at the end of 2026 after 15 years at the helm of the gas exploration and production company, which is the biggest partner in the Leviathan offshore gas field.

He said he is leaving due to, "Opportunities in the global and regional market. I will take part in the major changes expected in the region." Abu has many connections in Arab countries, including the UAE and Egypt, as well as in Azerbaijan.

Abu was CEO of NewMed, controlled by Yitzhak Tshuva's Delek Group (TASE: DLEKG), during the formulation of the Israeli government’s plan for competition and taxation in the natural gas industry, the development of the Leviathan reservoir, and the signing of the largest export contract in Israel's history: natural gas worth $35 billion to Egypt.

Abu was an advisor to then Minister of Finance Roni Bar-On between 2007 and 2009, including during the 2008 economic crisis, from which Israel emerged with only minor damage. He was then appointed director of trade and regulation at Delek Energy during the discovery of the Tamar reservoir. In 2011, he was appointed CEO of NewMed Energy at the age of just 33.

Tshuva said, "Yossi is a talented, professional and target-oriented manager who has come a long way with NewMed and led it to its status as a leading, strong energy partnership with significant growth potential. In the past 15 years, we have known successes and challenges. He was always ready for every challenge, set new goals and objectives and met them. I thank him for the many years of partnership and know that NewMed will always remain a home for him."

Published by Globes, Israel business news - en.globes.co.il - on May 4, 2026.

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