Mordechai Aviv Construction CEO Resigns; Successor's Pay May Double
Translated & summarized from Ice by baba
Tsala Amur-Rosenblum is resigning as CEO of Mordechai Aviv Building Industries, with Ruth Ralbag proposed as interim CEO. Ralbag's management fee would double to NIS 80,000 monthly if her role expands to 80% and shareholders approve. The company also recently agreed to acquire urban renewal firm Tarshish Kidum for approximately NIS 81.5 million.
The story in 5 lines · by baba
- CEO Tsala Amur-Rosenblum is resigning from Mordechai Aviv Building Industries.
- Ruth Ralbag is proposed as interim CEO, pending shareholder approval.
- Ralbag's monthly management fee could increase to NIS 80,000 if approved.
- The company is acquiring urban renewal firm Tarshish Kidum for about NIS 81.5 million.
- The acquisition includes rights to approximately 4,430 housing units.
Tsala Amur-Rosenblum, CEO of Mordechai Aviv Building Industries, has announced her intention to resign from her position to the company's board of directors. The company is proposing to appoint Ruth Ralbag, the active chairwoman of the board, as interim CEO. This appointment is pending approval from the general assembly of shareholders, scheduled for December 3, 2026, and will last until a permanent CEO is appointed or until December 31, 2027, whichever comes first.
Ralbag has served as active chairwoman since December 1, 2025. The board explained that her temporary appointment is intended to ensure management continuity, citing her familiarity with the company's business, experience, and managerial skills. Ralbag would continue to serve as chairwoman concurrently with her interim CEO role if approved.
Alongside the interim appointment, the company is seeking to update Ralbag's compensation terms. Currently, she receives NIS 40,000 per month plus VAT for a 40% position. If the shareholders approve the changes, her role would expand to 80%, and her monthly management fee would increase to NIS 80,000 plus VAT. The compensation committee and board have already approved the proposal.
The company stated that the review of Ralbag's compensation considered her experience, skills, responsibilities, and the company's needs and operational scope. Mordechai Aviv Building Industries, owned by Mordechai Aviv (35.97%), Yael Aviv (19%), and other shareholders, operates in the construction and real estate sector.
In September, the company reported a binding agreement to acquire all shares of Tarshish Kidum Marketing Entrepreneurship, a company focused on urban renewal. The deal, signed with Tamir Chafetz, involves approximately NIS 56.5 million for Tarshish shares and an additional NIS 25 million to Ken HaTor Engineering and Construction for project rights. The combined project portfolio includes about 4,430 housing units, with Tarshish expected to market around 1,100 units. This acquisition is subject to conditions, including approval from the Antitrust Commissioner.