Food Company Tomer Mazon Faces Deepening Crisis Amidst Trading Suspension

The crisis at food company Tomer Mazon is intensifying, with a board of directors meeting postponed by nine days to September 17. This delay means the board will discuss the continued suspension of the company's stock trading, which has been halted for a week and a half, if the conditions for its resumption are not met. The company, controlled and managed by Doron Kimelov, has already announced it will not publish its quarterly report by the deadline. This follows the trading halt, which was triggered by uncertainty surrounding the company's explanation for why its newly appointed CFO, Avital Perlstein-Cherni, decided not to assume the role just a week after her appointment and before she officially started.

Tomer Mazon initially cited personal reasons for Perlstein-Cherni's decision but later revealed it stemmed from the accounting treatment of inventory at its subsidiary, Tomer Import and Marketing of Food Products. Subsequently, the company reported that its board had ordered an immediate review of the inventory accounting practices and their financial implications for the 2025 financial statements, which were published in April.

Adding to the turmoil, independent director Orna Zamir resigned, stating her decision was prompted by media attention regarding her connection to Tomer Mazon as the wife of the IDF Chief of Staff. Her resignation came after it was revealed she had not signed a conflict of interest agreement, despite the Ministry of Defense and the IDF being major clients of Tomer Mazon.