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Ackerstein Group Shares Plunge After Weak Q2 Results and CEO Departure

How 2 Israeli newsrooms covered this story — translated into English and compared side by side.

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First reported by Calcalist · 2 hours ago

What happened

Ackerstein Group reported a steep drop in Q2 profits and revenues due to reduced client activity and rising costs, prompting CEO Amit Lang's resignation after less than a year. The company plans leadership changes amid a 16% stock decline over the past year.

01Ackerstein’s Q2 net profit fell over 85% to 2.3 million shekels due to lower revenues and higher costs.
02Revenues dropped 15% in Q2 and 12% in the first half, partly from client activity restrictions.
03CEO Amit Lang resigned after less than a year; Tzvi Ackerstein is expected to replace him.
04CFO Eyal Weinberg was named deputy CEO alongside his current role.
05The company aims to appoint an independent chairman separate from controlling shareholders.
06Ackerstein’s stock has declined about 16% over the past year, valued now at 2.1 billion shekels.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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