Dori Na'evi Steps Down as Na'evi Group CEO After 16 Years
Dori Na'evi, the controlling shareholder and CEO of Na'evi Group for nearly 16 years, will step down from his CEO role and assume the position of Deputy Chairman of the Board. Chairman Shachar Ozeri will continue in his role. Na'evi Group's new CEO will be Tzachi Artzi, currently head of construction and real estate at Bank Leumi, who will officially take over by July 4, 2027, following a comprehensive handover and regulatory approval from the Capital Markets Authority.
In parallel, the company is also changing its CFO. Aviv Ephraim will depart on December 1, to be replaced by Eti Ben-Nono, currently deputy CEO and head of finance and investments at Clal Insurance Credit. Na'evi Group, a non-bank credit company specializing in real estate financing, is currently valued at approximately NIS 1.6 billion, with its stock price increasing by about 154% over the last five years. Na'evi's 70% stake is valued at around NIS 1.1 billion.
The leadership transition occurs as the company shifts its focus. In recent years, Na'evi Group has concentrated on expanding credit operations for the real estate sector. However, with the industry now facing concerns of stagnation, reduced demand, financing pressures, and growing difficulties for small contractors and developers, the management change gains significant importance. Na'evi departs at a time when credit exposure to real estate is a critical issue for non-bank credit companies, presenting a key challenge for the incoming leadership.
