Hazi Hinam CEO Orit Shalom-Bag Resigns After 26 Years Amid Ownership Dispute
Translated & summarized from Ice by baba
Orit Shalom-Bag, CEO of Hazi Hinam and daughter of its founder, has resigned after 26 years amid a sharp dispute with co-owner Motty Kuperly. The conflict escalated three months ago when Shalom-Bag sued Kuperly over alleged prejudice in company management. Despite her resignation, she retains a significant shareholding, and legal battles continue over the future of the partnership. Investors have reportedly shown interest in acquiring the retail chain, valued at around 3.5 billion shekels.
The story in 6 lines · by baba
- Hazi Hinam CEO Orit Shalom-Bag resigned after 26 years due to a dispute with co-owner Motty Kuperly.
- Shalom-Bag, daughter of the founder, sued Kuperly three months ago over alleged prejudice in company management.
- She retains about a third of the company's shares, and the legal battle over the partnership continues.
- Investors, including Harel Wiesel and Zvi Villiger, have reportedly explored acquiring the chain.
- The retail chain is valued at approximately 3.5 billion shekels including debt.
- Potential resolutions include external investment, an IPO, or a direct family deal.
Orit Shalom-Bag, CEO of the Israeli retail chain Hazi Hinam, is stepping down after 26 years with the company. Her departure follows a severe conflict with her partner and co-owner, Motty Kuperly. Three months prior, Shalom-Bag filed a lawsuit against Kuperly and other shareholders, alleging her rights in managing the company were prejudiced and making serious accusations. Those close to Kuperly have rejected these claims.
Shalom-Bag, daughter of the late founder Zaki Shalom, was a key figure in expanding Hazi Hinam to eight large branches in central Israel and the Shephelah region, alongside successful real estate ventures. Despite resigning as CEO, she retains about a third of the company's shares, and the legal battle between the parties continues.
Business circles anticipate that the current ownership structure is unsustainable and the legal proceedings will lead to the dissolution of the decades-long partnership. A primary scenario involves Shalom-Bag selling her stake to the Kuperly family. Initial inquiries from prominent investors, including Harel Wiesel and Zvi Villiger of WilliFood, have emerged, reportedly valuing the chain at approximately 3.5 billion shekels including debt.
Potential solutions to end the dispute include bringing in an external investor, an IPO, or a direct deal between the families. Meanwhile, the Kuperly family maintains that the chain is stable and professionally managed.
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