Yuval Bronstein has been named CEO of the Azrieli Group, Israel's largest real estate group. He will take up the, after the appointment is ratified by the board and after incumbent CEO Shlomo Sherf leaves.
Bronstein has been CFO of the group since 2007. He was previously Deputy Accountant General in the Ministry of Finance.
Azrieli Group chairman David Azrieli said, "I thank Shlomo Sherf for his managerial contribution in a period full of challenges, and his leadership of the company to continued improvements in all operating measures. Shlomo's dedication and professionalism in managing the company's business are entirely praiseworthy. I respect his personal decision to try new channels.
"I am proud of the appointment of Yuval Bronstein, an appointment that ensures managerial continuity and maintains the principle of stability that characterizes the solid leadership of Azrieli Group," Azrieli continued, "Yuval has substantial and successful experience with the group with all its complexities. I wish him great success in his new position."
Azrieli Group posted a net profit of NIS 939 million in 2012, 58% more than in the previous year. Among contributing factors to the improved profit figure were revaluations of real estate assets and rises in the value of investments in Bank Leumi and Leumi Card.
Published by Globes [online], Israel business news - www.globes-online.com - on April 3, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013