Tomer Food Stock Resumes Trading After Financial Irregularities

Tomer Food's stock has resumed trading on the stock exchange after a nearly two-month suspension. The suspension followed the company's financial report corrections, which revealed irregularities stemming from actions taken by its chairman and controlling shareholder, Doron Kimelov. To restore investor confidence, the company announced leadership changes, appointing Raviv Brookmeyer as active chairman (40% position). Brookmeyer, formerly CEO of Wissotzky, Mega, and Golf, will replace Kimelov, who will continue as CEO. This move aims to strengthen the company's management structure and corporate governance by separating the chairman and CEO roles.

Kimelov, who holds a 61% stake in the company, will also reduce his monthly salary by NIS 15,000 until the end of 2027. He has also waived his full annual bonus for 2026 and 50% of his bonus for 2027. Prior to these changes, Kimelov's annual compensation was estimated at NIS 2.8 million, including a NIS 1 million bonus for meeting profit targets. This included a monthly salary of NIS 118,000 and a bonus of 5% of the company's annual operating profit.

Tomer Food joined the stock exchange approximately five months ago through a merger with the shell company Sefia Vision. Since 1979, the company has been involved in importing and marketing food products, employing 73 people and managing a 30,000 square meter logistics center in northern Israel. The stock's return to trading follows the discovery of irregularities two months ago, initiated by the resignation of CFO Avital Perlstein-Cherny over the company's inventory handling practices. An internal committee investigation confirmed inflated inventory values and premature revenue recognition in a subsidiary, with Kimelov acknowledging his influence on inventory valuation.