Shikun & Binui CEO Eyal Lapidot leaves with NIS 50m

Eyal Lapidot

After only 13 months, Lapidot is leaving after disagreements with controlling shareholder Naty Saidoff.

Shikun & Binui Holdings Ltd. (TASE: SKBN) CEO Eyal Lapidot is leaving the company just 13 months after being appointed to the job. His departure comes after controlling shareholder Naty Saidoff and chairman Tamir Cohen sought to oust him but the parties have now reached agreement on the end of Lapidot's tenure.

The dispute between the parties revolved around Lapidot's involvement in attempts by the minority shareholders at Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) to oust the CEO there. In addition there were other behind the scenes disagreements based on personal differences and issues of ego. The parties have been entrenched in their positions in recent weeks and Lapidot, who is known to be a dominant figure, who dislikes external intervention, is leaving in order to prevent a legal dispute.

Lapidot was lured to Shikun & Binui with a very expensive remuneration package and while the terms of his departure have not been disclosed he is likely to be receiving a handsome 'golden parachute,' of an estimated NIS 50 million, before tax.

Published by Globes, Israel business news - en.globes.co.il - on July 1, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Eyal Lapidot
Eyal Lapidot
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