Shikun & Binui chair Tamir Cohen named temporary CEO

Naty Saidoff  photo: Avi Shauly

Cohen, who manages controlling shareholder Naty Saidoff's business interests in Israel, replaces the ousted Eyal Lapidot,

Following the departure of Eyal Lapidot, who was ousted as CEO of real estate company Shikun & Binui Holdings Ltd. (TASE: SKBN) after relations with controlling shareholder Naty Saidoff and company chairperson Tamir Cohen soured, Cohen will himself serve as temporary CEO as well as chairing the board. The board may well appoint a search committee shortly to find a new permanent CEO.

Cohen managed the Saidoff group's business interests in Israel and led its negotiations on investments in Israel in the past few years, at the end of which it bought the controlling stake (47.28%) in Shikun & Binui Holdings from Shari Arison for NIS 1.1 billion.

Meanwhile, Shikun & Binui has announced that its wholly owned subsidiary Solel Boneh has signed a contract worth $310 million with the Nigerian government for works in Nigeria. The project, for the construction of roads, bridges and interchanges in Nigeria's south-east, is expected to start in 2021 and to take four years.

Shikun & Binui reported the win in the Nigerian tender last October. The contract has now been officially signed.

Published by Globes, Israel business news - - on July 7, 2020

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

Naty Saidoff  photo: Avi Shauly
Naty Saidoff photo: Avi Shauly
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