Doron Blachar is the CEO of Ormat Technologies, a company specializing in renewable energy. He stepped into the CEO role on July 1, 2020, after serving as the Chief Financial Officer and President. His career spans over 20 years in...

Doron Blachar is the CEO of Ormat Technologies, a company specializing in renewable energy. He stepped into the CEO role on July 1, 2020, after serving as the Chief Financial Officer and President. His career spans over 20 years in finance, including key positions at well-known companies like Teva Pharmaceutical and Amdocs. He holds a B.A. in Accounting and Economics and an M.B.A. from Tel Aviv University. This education gives him a strong foundation in financial strategies. Under his leadership, Ormat has focused on performance metrics that drive growth, linking executive bonuses to company performance like net income and adjusted EBITDA. In 2023, his total compensation was around $1.25 million, including a significant cash bonus based on the company’s success. Interestingly, his employment agreement includes provisions for significant severance pay and accelerated vesting of stock in case of a company takeover. This shows a commitment to aligning his interests with those of the shareholders. Blachar's approach is grounded in practical financial insights, aiming to sustain the company’s growth while maximizing stakeholder value. His experience and structured approach have positioned Ormat Technologies well in the competitive energy market.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Ormat Technologies CEOs

O

Doron Blachar

CEO of Ormat Technologies

Education

B.A. in Accounting and Economics, M.B.A. from Tel Aviv University

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Utilities

Born

January 1, 1975 - 50 years ago

CEO of Ormat Technologies for

5 years 0 months (Jul 2020 - Present)

Previous Experience

CFO of Ormat Technologies, Inc. since 2013.

Rivals

Competitors/colleagues of Doron Blachar

Holdings

See how much did Doron Blachar make over time.

As the CEO of Ormat Technologies, Doron Blachar has a financial stake in the company that reflects the company's performance and growth. While he has made strategic decisions that affect shareholder value, specific details about his stock holdings are not...

As the CEO of Ormat Technologies, Doron Blachar has a financial stake in the company that reflects the company's performance and growth. While he has made strategic decisions that affect shareholder value, specific details about his stock holdings are not disclosed in public records. His wealth is notably influenced by his role and compensation as CEO, which was $1.25 million in 2023 and included a significant cash bonus linked to company performance metrics. This compensation has seen fluctuations, with his total compensation peaking at approximately $2.4 million in 2020. However, the absence of vested stock grants in 2023 indicates a strategic pivot towards cash-based incentives, ensuring that his focus remains on operational performance and immediate results. His financial interests are closely tied to the company’s success, aligning him with shareholders, while his past compensation reflects a history of performance-driven rewards as the company continues adapting in the energy sector.

Total Stock Sold

$9.13M

ORA

$9.13M

164,607 ORA shares

What if they kept their stock?

If Doron Blachar didn't sell their stock, today they would have:
Extra ORA164,607 shares worth $10.20M.
This is 11.74% and $1.07M more than what they got when they sold the stock.

Insider Trading

See recent insider trades of Doron Blachar.

ORA

$854.51K

ORA at $75.52/share

Sep 1, 2023

Sale

ORA

$1.74M

ORA at $83.79/share

Jun 1, 2022

Sale

ORA

$3.56M

ORA at $57.00/share

Jul 26, 2017

Sale

ORA

$147.59K

ORA at $40.85/share

Apr 12, 2016

Sale

ORA

$531.19K

ORA at $40.37/share

Apr 11, 2016

Sale

ORA

$423.93K

ORA at $40.61/share

Apr 8, 2016

Sale

ORA

$734.85K

ORA at $40.33/share

Apr 7, 2016

Sale

ORA

$997.50K

ORA at $40.60/share

Apr 6, 2016

Sale

Compensation History

See how much did Doron Blachar make over time.

In 2023, Doron Blachar received total compensation of $1,250,576 from Ormat Technologies. His salary was $528,300, supplemented by an annual cash bonus of $594,000 driven by performance metrics that required positive net income for bonus eligibility. He did not have any stock or options that vested in 2023, reflecting a shift to performance-driven cash incentives. The remaining portion of his compensation came from various perks, including payments related to pensions and car expenses. This structure aligns with Ormat Technologies’ goal to retain talent while ensuring that executive pay is linked to measurable performance outcomes, like revenue growth. His compensation in previous years has been higher, with total earnings reaching about $2 million in 2022, indicating growth and fluctuations in how he is rewarded based on the company's performance in the competitive energy market.

Year

2023

Total Compensation

$1.26M

Salary

$528.30K

Board Justification

The compensation philosophy is designed to attract, motivate, and retain talented executives while aligning their interests with those of stockholders through performance-based incentives.

Bonus

$594.00K

Board Justification

Annual cash bonus based on performance metrics including revenue and adjusted EBITDA, with no bonus paid unless net income is positive.

Other

$136.28K

Board Justification

Includes severance and pension contributions as required by Israeli law, car-related expenses, and other perquisites.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock grants vested in 2023, only stock grants that are already vested are included in this report.

Performance Metrics

Performance metrics included revenue and adjusted EBITDA targets, with a focus on achieving positive net income.

Other Ormat Technologies CEOs

Here are other CEOs of Ormat Technologies

Isaac Angel

Ex-CEO of Ormat Technologies

July 2014 - June 2020