Rachel Lavine, CEO, is Stepping Down and Agreed to Continue to Serve as Vice Chairman of Atrium and on Citycon Board; Dori Segal Named CEO
(Thomson Reuters ONE) -
TEL-AVIV, Israel, Nov. 27, 2016 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:GZT);
(TSX:GZT); (TASE:GZT), a leading global real estate company focused on the
ownership, management, acquisition, development and redevelopment of
supermarket-anchored shopping centers in major urban markets, announced today
that Rachel Lavine, is stepping down on January 31, 2017. Ms. Lavine agreed to
continue to serve as Vice Chairman of Atrium and on Citycon board.
Dori Segal, Executive Vice Chairman of Gazit-Globe, named CEO. Mr. Segal has
served as CEO of Gazit-Globe between 1998 and 2008, and as President and CEO of
First Capital Realty from 2000 to 2015. Currently, Segal serves as the Chairman
of the Board of First Capital Realty, as well as several other senior leadership
positions in Gazit-Globe's subsidiaries. Mr. Segal will assume CEO position on
February 1, 2017.
Rachel Lavine joined the Group nine years ago and served six years as Atrium's
CEO. Over the years, Ms. Lavine has lead the turnaround in Atrium increasing its
assets value from EURO 1.6 billion to EURO 2.5 billion; the operating profit
margin increased from approximately 70% to 95% while its dividend has increased
from 3 cents a share to 27 cents a share.
Upon returning to Israel, Lavine was appointed as Chairman of Gazit Israel and
as a director of Gazit Globe. Later, she was appointed as CEO of Gazit Globe and
together with the Board of Directors helped develop the Company's new growth
strategy which in turn would increase its direct ownership of real estate.
Rachel Lavine, CEO of Gazit-Globe: "Gazit-Globe is an amazing real estate group
that has many opportunities and challenges ahead. It is blessed with very
professional and hands on two large shareholders and excellent management. I
believe that the new strategy of Gazit Globe, among other things, increasing
private real estate, will prove itself in the coming years. I am delighted to
have the opportunity to continue and contribute from my experience as Vice
Chairman in Atrium and as a Director in Citycon."
Chaim Katzman, Chairman of Gazit-Globe: "Lavine is one of the most talented
executives I have ever met. I welcome her willingness to continue to serve as
Vice Chairman in Atrium and as Director in Citycon. I am sure that we will
continue to benefit from her knowledge and experience."
About Gazit-Globe
Gazit-Globe is one of the largest owners, developers and operators of
predominantly supermarket-anchored shopping centers in major urban markets
around the world. Gazit-Globe is listed on the New York Stock Exchange
(NYSE:GZT), the Toronto Stock Exchange (TSX:GZT) and the Tel Aviv Stock Exchange
(TASE:GZT) and is included in the TA-25 and Real-Estate 15 indices in Israel. As
of September 30, 2016 Gazit-Globe owns and operates 427 properties in more than
20 countries, with a gross leasable area of approximately 6.5 million square
meters and a total value of approximately US$ 22 billion.
FORWARD LOOKING STATEMENTS
This release may contain forward-looking statements within the meaning of
applicable securities laws. In the United States, these statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements involve a number of known and unknown risks
and uncertainties, many of which are outside our control, that could cause our
future results, performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such forward-
looking statements. Important factors that could cause or contribute to such
differences include risks detailed in our public filings with the SEC and the
Canadian Securities Administrators. Except as required by applicable law, we
undertake no obligation to update any forward-looking or other statements
herein, whether as a result of new information, future events or otherwise.
FOR ADDITIONAL INFORMATION
Investors Contact: ir(at)gazitgroup.com, Media Contact: press(at)gazitgroup.com
Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Gazit-Globe via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 27.11.2016 - 09:18 Uhr
Sprache: Deutsch
News-ID 509226
Anzahl Zeichen: 5040
contact information:
Town:
TEL AVIV-YAFO
Kategorie:
Business News
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"Rachel Lavine, CEO, is Stepping Down and Agreed to Continue to Serve as Vice Chairman of Atrium and on Citycon Board; Dori Segal Named CEO"
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