Former Minister of the Interior, Ayelet Shaked, joined the Kardan Real Estate Group and will serve as an active chairman of the board at full salary – but how much is Shaked expected to earn in the new job?
According to her employment contract, Shaked will serve as the vice-chairman of the company’s board of directors for at least 25 hours per week. From the day the incumbent chairman’s term ends, Shaked will be the chairman of the company’s board of directors. As part of her term, she will provide the company with services that will include, among other things, Leading the board of directors, participating in company board meetings, consulting and accompanying the company in all its various fields of activity, including dealing with partners, land owners and relevant entities.
In exchange for her work, Shaked will be entitled to a monthly compensation of 70,000 shekels, and at the end of 24 months from the start of her work, her monthly salary will be updated to 75,000 shekels.
The contract was signed for a five-year term on the company’s board of directors. Shaked will be entitled to an annual bonus not exceeding NIS 420,000, which is contingent on the company’s performance.
Let’s upgrade your English: click here for a free trial lesson with no obligation>>
Annual bonus and stock options
Shaked may be entitled to an annual grant, subject to meeting the goals as determined by the authorized bodies of the company. Also, the former minister is offered about 1.2 million options for the company’s shares, free of charge, at a fair value of NIS 1.8 million.
As mentioned, the former minister joins the Kardan Real Estate Group and will serve as an active and fully paid chairman of the board of directors. Shaked is expected to replace the incumbent chairman Yosef Greenfeld in his position. This is Shaked’s first position outside the political system.
Upon her retirement from the government of change, it was expected that she would serve on the boards of public companies in the real estate sector, the medical cannabis industry, and high-tech. Shaked first applied for the position of vice chairman of the board, until the end of the term of incumbent chairman Yosef Greenfeld, who is expected to finish his position in the coming months.
Kardan Real Estate is a stock exchange company owned by Kardan Israel, controlled by Roni Biram, Gil Deutsch and Avner Shenor and managed by Amos Dabush. The company engages in the initiation and development of residential projects and income-generating properties. It also engages in providing construction services in projects for the construction of residential buildings.