Shari Arison-Dorsman met with the business press yesterday. It is hard to say some sort of comment from her was not expected, taking into consideration that she recently inherited control of such assets as Bank Hapoalim, Housing and Construction (Shikun u'Binui) and Eurocom. Arsion, however, chose to relate only to her philanthropic endeavors. Perhaps "chose" is not the appropriate word in this case, since it came on the advice of her close consultant Moshe Teumim.
"In all my years with Charles Bronfman, I took pains to never have him comment on business matters. He always talks of viewpoints, in global terms, and in general terms. People of such stature should not talk of everyday business matters, and the same goes for Shari Arison," says Teumin. In other words: as long as I am in the picture, you will not hear about business matters from Shari Arison.
This attitude is puzzling, in view of Arison's opening remarks: "As you know, I now represent the Arison family in all business matters in Israel. To allow me the time to take on this responsibility, I have transferred management of the Arison fund to Shalom Elcott." Arison is vacating time for business. She will lead 'with vision and strategy'. Public investors and hundreds of employees and managers will be obliged to wait to see the results. Very few will be privileged in getting to know and learn of her business intentions.
In contrast to previous assessments that Shari was embarrassed and overwhelmed by the responsibility placed upon her and meeting the press, she seemed relaxed. An elegant woman, with fluent Hebrew showing no hint of any foreign accent, and quick to joke and smile, Arison is not flustered by the fuss surrounding her.
She repeated the only statement she made on the death of her father, the late Ted Arison, to the effect that Shlomo Nehama will head business activities. Teumim did not allow her to respond to questions on this subject. She read a prepared speech regarding her philanthropic activity, and later discarded it, continuing in flowing language, spiced with much enthusiasm and pathos. No doubt about it, this activity is Arison's primary love.
Arison said she had studied hoteliery and tourism, and worked as a travel and shipping agent for Carnival Cruise, the family company. In 1981, her father set up a fund to provide grants to youngsters and students in the arts in Miami. In 1986, her father asked her to take over this activity, and expand into other areas. At the same time, he founded "the new-world orchestra".
"The sphere of philanthropy in Miami focuses on dazzling charity events and cocktail parties, and I didn't like all the fuss," she explains on her decision to return to Israel and concentrate on donations for Jewish and Israeli causes. The Arison fund in Israel has $300 million, and distributes $10-12 million donations each year. Recipients include Ichilov Hospital, the Weizmann Institute, the Zichron Yaacov Museum and the interdisciplinary center in Herzliya.
Distribution of the fund's money, through a committee comprising public figures as well, is designed for segments in distress, disabled, educational projects, children, and culture and arts. In addition, the fund led a campaign on tolerance. A year ago, the fund set up Matan, which conducts campaigns at companies to raise money for various organizations.
"The situation has changed. Wealthy Jews overseas have their own problems. There's also the assimilation problem, and they prefer to take care of their communities and worry less about Israel. We must now rely more on ourselves. I'm convinced that commercial companies can, and should, give back to the community," says Arison.
To set up Matan, Arison asked long-standing friend Shalom Elcott to relocate to Israel, from Los Angeles.
Matan works with several entities: accounting firm Somech-Chaikin (Arison's accountants), Applied Technologies, Clal Insurance, and Bank Hapoalim. "Isn't it somewhat distasteful that you chose to begin with Arison group companies? Could employees feel they are expected to contribute, and will do so, but not necessarily willingly, or out of free choice?" Arison was asked.
According to Arison, at the time, Bank Hapoalim executive Emanuel Sharon approached her to take part in this type of activity. In effect, the bank acted as the trigger, she says. At the same time, she certainly plans to act so that all the companies in which she is involved will decide to take part. For the time being, this is the only strategy on the way to her business involvement that she is willing to divulge.
Published by Israel's Business Arena on November 17, 1999