Haim Katzman Advances CEO Appointment and Golden Parachute at G City Amid Ownership Change

Businessman Haim Katzman is expediting the appointment of Keren Kalifa as CEO of G City, a real estate company, ahead of a planned ownership transfer. The control of G City is set to move from Katzman to investors Tzahi Abu (Ari Real Estate), Yaron Edib, and Kidan Dahari (Yespro). This shift has cast doubt on Kalifa's initial appointment, which was scheduled for early next year. To secure her position, the current board is pushing for Kalifa to assume the CEO role by early October instead of February.

If approved at the shareholders' meeting in early September, Kalifa will receive an annual compensation package totaling approximately 4.4 million shekels. This includes a base salary of 2.3 million shekels, an annual bonus up to 1.3 million shekels, and equity compensation valued at 855,000 shekels. Notably, her contract includes a substantial golden parachute: if her employment ends within one year of the ownership change, she will be entitled to a severance payment equal to 200% of her base salary, amounting to about 4.6 million shekels.

The incoming owners, Abu, Edib, and Dahari, have expressed intentions to reduce management costs by at least 50% following the acquisition. Abu stated that initial cuts would target senior management, with cost reductions expected to extend throughout the company’s management structure. Kalifa, who has been Katzman’s close associate, joined G City after eight years at Harel Insurance and has held various senior roles in real estate and operations within the company since 2022.

Katzman praised Kalifa’s appointment, highlighting her extensive knowledge, market reputation, and leadership capabilities. He expressed confidence that she would lead G City to new heights alongside the management team and staff. The ownership transfer and Kalifa’s appointment remain subject to shareholder approval in the coming weeks.