Novolog Appoints New CEO Amid Major Leadership Changes and Ownership Consolidation

Novolog is undergoing significant leadership changes following the consolidation of control by the Pozis family. After the board members resigned and a new board reflecting the Pozis family's dominance was appointed, the health group announced last week that CEO Aviad Busi will step down in December. CFO Yaniv Vidavski will also leave by mutual agreement. Novolog has already named Busi's successor, Ze'ev Menzur, who will assume the CEO role in early December. Menzur has been CEO of logistics company Logistiker since 2017 and previously held supply chain management roles at Shufersal. Logistiker, a fully owned subsidiary of the Maman Group, specializes in storage services including frozen food, temperature-controlled warehousing, pharmaceutical warehouse management, inventory control, and transportation services.

While Logistiker generated 678 million shekels in revenue in 2025, Novolog’s revenues were nearly three times higher at 1.8 billion shekels. Novolog operates not only in logistics but also in healthcare services and digital medicine. These leadership changes come amid a competing investment proposal from the Movement Group, controlled by Eli Dahan, which last month offered to invest 100 million shekels and replace the Pozis family as the largest shareholder. This offer exposed tensions between the Pozis family, the official controlling shareholder, and the board and management, which have now ended with the Pozis family solidifying control and the departure of other key figures.

Busi’s tenure as CEO lasted three and a half years, during which Novolog’s stock fell 57%, while the Tel Aviv 125 index rose 125%. The decline began under the previous CEO, Eiran Taus, and was driven by high impairment provisions on prior acquisitions, negative impacts from conflicts with Iran, and difficulties implementing a new distribution management system in early 2025. These issues caused delays in product distribution, leading to an 11% revenue drop and a sharp decline in operating profit in 2025. The company also faced one-time expenses of 15 million shekels and a 6.2 million shekel provision related to a class action lawsuit. Additionally, Pfizer, a major client, ended its contract with Novolog.

In the first half of 2026, Novolog reported revenues of 958 million shekels, roughly flat year-over-year. However, adjusted EBITDA fell 12% to 56 million shekels, and net profit dropped from 5.8 million to 729,000 shekels, affected by the Iran conflict, higher financing costs, and one-time expenses despite cost-saving efforts. The logistics division, the group’s main segment, generated 839 million shekels in revenue, accounting for 87% of total revenues. Novolog’s market value currently stands at 378 million shekels, down from a peak of 1.8 billion shekels in July 2022 and 919 million shekels when Busi took office.