Elron Board Ousts Chairwoman Bachar Menuch Amid Control Battle
Translated & summarized from TheMarker by baba
Elron's board ousted Chairwoman Lisia Bachar Menuch and appointed Dan Hoaz as interim chairman. Bachar Menuch is threatening legal action, citing conflicts of interest. The move comes as the controlling Arieli Group faces significant debt.
The story in 4 lines · by baba
- Elron's board ousted Chairwoman Lisia Bachar Menuch, appointing Dan Hoaz as interim chairman.
- Bachar Menuch is threatening legal action, alleging conflicts of interest and extraneous considerations.
- The Arieli Group, Elron's controlling shareholder, is reportedly behind the ousting.
- The Arieli Group faces tens of millions of shekels in debt to Phoenix.
The struggle for control of the investment company Elron has escalated, with the controlling shareholders of the Arieli Group leading to the ousting of Chairwoman Lisia Bachar Menuch. The company's board approved the move by a majority vote on Wednesday evening, appointing Dan Hoaz as interim chairman. Bachar Menuch has responded by threatening legal action, alleging conflicts of interest and extraneous considerations in the decision. The Arieli Group, which faces tens of millions of shekels in debt to Phoenix, is reportedly behind the move to replace Bachar Menuch.
