Food Importer Tomer Returns to Trading After Stock Manipulation Scandal

The food importing company Tomer is resuming trading on the Tel Aviv Stock Exchange today, after a suspension of nearly two months. The company announced that its controlling shareholder, Doron Kimelov, has been removed from his position as Chairman. Riviv Brokheimer has been appointed as the new Chairman. Kimelov will continue to serve as the company's CEO. Brokheimer currently holds the position of Deputy Chairman at Extra Retail, the private retail arm of the Alon Blue Square Group, which is controlled by Moty Ben-Moshe. Previously, Brokheimer served as CEO of Wissotzky Tea and Golf. The trading suspension followed the re-publication of financial reports and findings from an investigation that determined Kimelov had artificially inflated the company's inventory and profits. Kimelov's salary will be reduced, and he will forfeit some bonuses as part of the fallout from the investigation. Tomer's stock fell 15% at the opening of trading.