Haim Katzman Says He Is “Not Going Anywhere” as He Prepares to Hand Over G City

Businessman Haim Katzman said his plan to give up control of G City and step down as chief executive is a natural transition, not an exit. In an interview with Globes, he said, “After 9 years I chose to pass the baton to Keren, who is 27 years younger than me, but I am not going anywhere, and I will help her.” He added that G City is “a living, breathing organism” and said he is confident she can take the company in new directions.

Last weekend Katzman surprised the market by announcing he intends to sell control of G City, the income-producing real estate company he has controlled for 35 years. At the start of the week he said he would leave the CEO role at the beginning of next year and move back to the chairman role. The company said Keren Kalifa, currently chief operating officer and head of the real estate division, will replace him. Katzman said there are “many inquiries” about the control sale, but the process is still at an early stage and there is no deadline. He estimated it could take about two months.

Katzman said the purpose is to unlock value by turning G City into a company without a controlling shareholder. He argued that a layered holding structure limits flexibility, because it restricts IPOs or acquisitions of subsidiaries. He said listing a subsidiary would both create value and reduce leverage, calling that G City’s top task. “It is better to lose a pawn in order to win the queen,” he said.

According to the company, Katzman informed the board that he does not intend to renew his CEO contract, which is due to end at the end of January 2027. He has served as CEO since 2018 and is expected to return to the chairman post, which he held for more than two decades. The move follows years of weak share performance, with G City lagging the Tel Aviv market and recently being removed from the main stock indices.