Former Interior Minister Moshe Arbel to Receive Up to 3.4 Million Shekels Annually as Mehadrin Chairman
Moshe Arbel, former Israeli Interior Minister and ex-Knesset member for Shas, who retired from politics in May, has been appointed chairman of Mehadrin, an agricultural company controlled by Delek Group. Arbel is set to receive a compensation package for an 80% position valued at up to 3.4 million shekels annually, pending shareholder approval in mid-September. His base salary will be 100,000 shekels gross per month, more than double his previous Knesset salary of 49,000 shekels and higher than the 55,000 shekels he earned as a minister.
In addition to the base salary, Arbel is eligible for an annual bonus of up to 900,000 shekels, contingent on company performance targets set by the board. He will also receive stock options valued at 3 million shekels, consisting of 45,000 options exercisable in 12 equal quarterly tranches over four years starting October. The exercise prices range from 299.4 to 315 shekels per share, above the current market price of 286.4 shekels, meaning profit depends on share price appreciation.
If Arbel leaves his post during the first year, he will receive a severance grant of 300,000 shekels, rising to 600,000 shekels if he departs later. Arbel, 42, served as Interior Minister and previously as Health Minister before resigning with other Shas ministers in July 2022. He cited a desire to focus on family, Torah study, and academics upon retirement.
Mehadrin, controlled 61.4% by Delek Group, specializes in agriculture including planting, processing, packaging, and marketing of avocado, dates, and citrus fruits, as well as cold storage and water supply services for farmers. Delek reacquired control of Mehadrin in July 2023 at a company valuation of 560 million shekels. The company is currently valued at 961 million shekels on the Tel Aviv Stock Exchange and is expanding its real estate activities, including appointing Dalit Zilber as deputy CEO for planning and acquiring a controlling stake in an urban renewal firm last November.
