Former minister of interior and minister of justice Ayelet Shaked enjoyed remuneration of NIS 1.53 million in 2023 from Kardan Real Estate (TASE: KARE). Shaked has been employed by the company since February 2023 although she only became chairperson in October. The job is only a part-time 60% position, leaving her plenty of time to plan her return to the political arena, after she failed to win a Knesset place in the November 2022 elections.
According to Kardan Real Estate's financial results, Shaked earned NIS 1.12 million and NIS 401,000 in shares. Her salary included NIS 373,000 for meeting milestones.
Shaked's salary agreement, which was signed last year included a basic monthly salary of NIS 70,000 for working 25 hours per week. She signed a five-year contract until January 2028 with each side entitled to terminate the contract with 90 days of notice.
Above and beyond her salary, according to the agreement, her bonus grant will not exceed six-times her salary earnings. The minimum threshold for paying the grant is that the share price rises by 8% annually. In 2023, Kardan Real Estate's share price rose 50%, to a market cap of NIS 840 million.
Kardan Real estate's highest salary earner in 2023 was CEO Amos Dabush, who received remuneration of NIS 3.7 million. The company's revenue in 2023, mainly from selling apartments, was NIS 368.2 million, up 7% from NIS 343.5 million in 2022. But net profit fell 40% from NIS 119.9 million in 2022 to NIS 70.4 million last year.
Published by Globes, Israel business news - en.globes.co.il - on March 19, 2024.
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