Novolog CEO and CFO Resign Amid Ownership Shakeup Led by Pozis Family

Oded Pozis, representing the controlling Pozis family with a 44% stake in healthcare and pharmaceutical distribution company Novolog, announced that CEO Aviad Busi and CFO Yaniv Vidvesky will step down. Both executives agreed with the board on their departure and will remain for a four-month transition period. Busi cited personal reasons for leaving, coordinated with Pozis, who also chairs the board.

This leadership change follows recent turmoil at Novolog, including Pozis’s move to replace the board after announcing plans two weeks earlier. Concurrently, Eli Dahan, controlling shareholder of Movement Group, proposed investing 100 million shekels for a 21% stake, which could have balanced power against the Pozis family. Instead, the Pozis family bought shares from Arkin and Phoenix groups for 91 million shekels, increasing their holding to 44% and solidifying control.

The previous board resigned amid these shifts, with Oded Pozis appointing a new board and assuming chairmanship. Earlier in the year, Oded’s father, Udi Pozis, had sought to sell his stake but ultimately retained it, installing Oded as the family’s dominant representative. Tensions between Oded Pozis and the former board involved accusations of harsh conduct and withheld information.

Novolog, which grew during the COVID-19 pandemic, has faced recent challenges including asset write-downs leading to a 39 million shekel loss in 2023 and operational disruptions from a new SAP ERP system in 2025. These issues caused some clients to leave or diversify suppliers. Despite difficulties, Novolog remained profitable and grew in 2025 compared to 2024, but concerns remain about sustaining profitability without significant changes.

The company’s market value plummeted from a peak of 1.8 billion shekels to about 424 million shekels. The outgoing CEO and board had initiated a strategic plan focusing on trimming non-core activities but had not advanced acquisitions closer to the company’s core business. Pozis appears poised to implement a new strategic direction with new leadership.