The Shufersal Ltd. (TASE:SAE) board of directors has unanimously approved the proposal by its newly elected chairman Itzik Abercohen to oust CEO Ofer Bloch. Bloch will be summoned to a hearing.
Having said in the past that he would be able to work with any chairman except for Abercohen, Bloch's fate was sealed last month when a block of five new directors, including Abercohen, was elected to the board by the institutional investors who control Israel's largest supermarket chain.
Abercohen himself served as Shufersal CEO for 10 years until March 31, when he stepped down due to differences with former chairman Yaki Vadmani, who was subsequently ousted by the institutional investors who control the company.
Leading candidates to replace Bloch include Ori Watermann, the CEO of Shufersal's BE pharmacy chain, Shufersal Business CEO Roee Freibach, and former Yeinot Bitan-Carrefour CEO Amit Zeev.
Published by Globes, Israel business news - en.globes.co.il - on July 7, 2022.
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