Gazit Globe CEO Set to Step Aside as Control Sale Looms

Chaim Katzman is giving up the CEO role at G City and will remain chairman, while the company plans to appoint Keren Khalifa as chief executive starting in January 2027. Khalifa is currently the CEO of Gazit Israel.

The announcement came on Monday, just days after Katzman said he intends to sell part of Norstar’s stake in G City, a move that would end Norstar’s status as the controlling shareholder. The company said the plan is to sell up to about 30% of G City shares to a new controlling owner or to several buyers, so that G City would become a company without a controlling core.

Even in that scenario, Katzman appears likely to ask to stay on as chairman after the share sale. That raises questions for potential buyers, since a new controller would usually want the chairmanship and to appoint its own chief executive.

There is also uncertainty over whether the transaction can actually be completed, given the high premium Katzman is reportedly demanding for the shares.