Itzik Aberkhan (photo by Sivan Farage, freepik)
After the Itzik Aberkhan era at Shufersal came to an end last night (Sunday), Shira Ahiez, a retail analyst, IBI Investment House provided its analysis for a move that shakes one of the most important players in the Israeli retail market.
Under the headline “Shufersal – Tam Idan Aberkhan”, Ahiez wrote: “Yesterday, the Shufersal company reported that Itzik Aberkhan, the company’s CEO for the past decade, announced the termination of his position starting at the end of March 2022. The outgoing Shufersal CEO does leave a stable company behind And Eitan, which leads the food retail market in Israel, but we believe that this is negative news for Shufersal. “
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Itzik Aberkhan is considered a dominant and esteemed CEO, who took over as CEO during a difficult period after the days of social protest and led significant moves for the development and growth of the company while establishing itself in other areas of traditional food, including the acquisition of New Pharm as well as the private label. “Creating market leaders in the online sector. In response to the report, the Shufersal share responded with declines and a variety of articles were published that deal mainly with the reason for the resignation and the intended replacement.”
Why did Itzik Aberkhan decide to end his position?
“About a year ago, Itzik Aberhahn stated in an interview that he does not intend to retire from the company’s management, while at the same time stating that he will remain in office to the extent that the election of the new chairman at that time” will create continuity and quality flow between the board and Shufersal. ” It was also reported yesterday that the opening of the PA’s investigation into the competition last November, along with disagreements with chairman Yaki and Damani, accelerated the retirement date of Itzik Aberkhan. ”
Who will be the next CEO of Shufersal?
The question is who will replace Itzik Aberkhan in managing the leading food retail chain in Israel? A Shufersal report states that it was decided to establish a search committee immediately with the aim of finding a new CEO, a move that we believe could indicate that the identity of the replacement will not be from Shufersal. Until the end of January 2021 as Deputy CEO of Shufersal and Director of the Company’s Trade and Marketing Division, and currently serves as CEO of Azrieli Malls. It should also be noted that according to The Marker, two other names that came up as candidates for his replacement are Uri Waterman, CEO of the BE chain and David Laron, VP of operations and supply chain at Shufersal.
The bottom line is that the outgoing Shufersal CEO leaves behind a stable and solid company that leads the food retail market in Israel, but we believe that this is negative news for Shufersal as the change of management may in our estimation interfere with the day-to-day running of the business. , Which include, among other things, online automation, the business arm, the continued promotion of strategic moves in the BE network and the new collaboration with Discount on the Facebook platform. Of course, the identity of the incoming CEO has an important element in further promoting and assimilating the significant moves that the company is in the midst of. ”
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