Rafi Danieli, chief executive officer of ZIM Integrated Shipping Services Ltd., has given his notice of resignation to the board of directors.

“Rafi’s request to leave his service as CEO came after working at ZIM for 38 years, of which he served as CEO for seven years, and during which time he led broad structural changes in the company and two complex financial restructurings,” said ZIM’s board of directors. “During his service, the company has moved from making operational losses to an operational profit, with operating margins higher than the industry average. We are thankful for Rafi’s leadership over the past seven years and are confident in Rafi’s continued contribution to the company both until a new CEO is appointed and following as an active advisor to the company.”

A committee has been nominated by the board to lead the search for Daniel’s replacement, according to ZIM.