– ISRAEL, Yakum – Alon Blue Square Israel Ltd. (NYSE: BSI) announced today that that its board of directors had approved the appointment of Mr. Tzachi Otsar to serve as a new director of the Company effective immediately.
Since 2011, Mr. Otsar has served as the chief executive officer and chairman of the board of directors of Rosebud Real Estate Ltd., an Israel-based company primarily engaged in real estate investments in high yield properties in Europe. In addition, he serves as the chief financial officer of Beilsol Investments (1987) Ltd., a real estate acquisition, development and holding company, which is the major shareholder of Alon Israel Oil Company Ltd., the Company’s largest shareholder. Mr. Otsar also serves as a member of the board of directors of Alon Israel Oil Company Ltd. From 2006 until 2011 he served as the corporate controller of Electra Real Estate Ltd. an Israeli commercial real estate company. Prior to that, he served from 2003 until 2006 as the director of finance of Telmap Ltd. a mobile location-based service provider. Mr. Otsar is a certified CPA (ISR) and holds a B.A in economics from Haifa University, Israel and an LLM from Bar-Ilan University, Israel.
The Company further announced the resignation of. Dan Weiss, who resigned as a director for personal reasons.
Alon Blue Square Israel Ltd. operates in five reportable operating segments and is the largest retail company in the State of Israel. In the Fueling and Commercial Sites segment, Alon Blue Square through its 63.13% subsidiary, which is listed on the Tel Aviv stock exchange (“TASE”), Dor Alon Energy in Israel (1988) Ltd is one of the four largest fuel retail companies in Israel based on the number of petrol stations and a leader in the field of convenience stores operating a chain of 211 petrol stations and 220 convenience stores in different formats in Israel. In its supermarket segment, Alon Blue Square, as a pioneer in the modern food retail, through Mega Retail Ltd., held 67% by Alon Blue Square, currently operates 125 supermarkets under different formats, each offering a wide range of food products, “Near Food” products and “Non-Food” products at varying levels of service and pricing. In its “Houseware and textile” segment, Alon Blue Square, through its TASE traded 77.51% subsidiary, Na’aman Group (NV) Ltd. Operates specialist outlets in self-operation and franchises and offers a wide range of “Non-Food” products as retailer and wholesaler. In the Real Estate segment, Alon Blue Square, through its TASE traded 53.92% subsidiary Blue Square Real Estate Ltd., owns, leases and develops income producing commercial properties and projects. In addition, Alon Blue Square operates the issuance and clearance of gift certificates.
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