Arie Givony announced yesterday that he was resigning from his positions at three public companies within the Peled-Givony group. Last week, Rafi Peled resigned from the same companies.
Givony was chairman of Iscal Holdings, acting chairman and CEO of Feuchtwanger Industries, and a director of Mashav Industries. Givony said he was resigning from the posts because of the Israel Securities Authority investigation against him, and the need to devote time to protecting his good name. Peled gave the same reasons for his resignation.
According to announcements from the three companies, and TASE information, Givony ceased being a party-at-interest in all three prior to his resignation. This means that Givony, like Peled, had only a marginal share of less than 5% in the company bearing his name. A holding company controlled by Givony owns 35% of Mashav Industries but Givony has no official position at that company.
The Israel Securities Authority claimed this week that Tal Jaegerman, who was arrested last week, effectively controlled Peled-Givony's financial affairs. According to Securities Authority investigators, Jaegerman is the key figure in the affair. The Securities Authority has not yet asked the police to join in the investigation.
Published by Globes [online] - www.globes.co.il - on July 31, 2002