Richard Hunter appointed Shufersal's CEO

Richard Hunter has been appointed CEO of Shufersal Ltd. (TASE:SAE; Pink Sheets:SSLTF). Hunter is currently CEO of sister-company NetVision Ltd. (TASE: NTSN)

Hunter will work alongside CEO Effi Rosenhaus who now becomes president. With Rosenhaus likely to be indicted by the Israel Antitrust Authority for removing branded products from supermarket shelves because they were being sold by competitors at bargain prices, Hunter is being groomed as Rosenhaus's successor.

Shufersal is a unit of Nochi Dankner-controlled IDB Holding Corp. (TASE:IDBH) held through Discount Investment Corporation Ltd. (TASE:DISI).

IDB chairman Dankner said, "The management structure presented to the board by Effi Rosenhaus has been welcomed and I am convinced that Effi Rosenhaus will continue to lead Shufersal in fruitful endeavors and in successfully navigating and managing the group in the coming years alongside chairman Rafi Bisker and co-chairman Shalom Fisher."

Published by Globes [online], Israel business news - www.globes-online.com - on January 19, 2010

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