– ISRAEL, Yakum – Alon Blue Square Israel Ltd. (NYSE: BSI) announced today, in furtherance of its announcement on August 10, 2015, that its board of directors has approved the appointment of Mr. Israel Yaniv as the Chief Executive Officer of the Company replacing Mr. Avigdor Kaplan, who has been appointed chairman of the board of directors. Following Mr. Kaplan’s appointment as the Chairman of the board of directors, Mr. Amit Ben Itzhak resigned as a member of the board of directors.
Mr. Yaniv served as the Chief Executive Officer of the Company’s subsidiary, Dor Alon Energy in Israel (1988) Ltd., from 2000 to 2015 and as Chief Executive Officer of Supergaz Ltd., from 1996 to 2000. Mr. Yaniv holds a BSc and MSc in Chemical Engineering from the Technion – Israel Institute of Technology in Haifa.
The board of directors is pleased that Messrs. Yaniv and Kaplan will serve as the Company’s CEO and Chairman of the board of directors, respectively, and is looking forward to working with both Mr. Yaniv and Mr. Kaplan for the benefit of the Company.
Alon Blue Square Israel Ltd. operates in four 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 71.17% 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 212 petrol stations and 219 convenience stores in different formats in Israel. In its supermarket segment, Alon Blue Square, as a pioneer in the modern food retail, through its 100% subsidiary, Mega Retail Ltd., currently operates 192 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 61.19% subsidiary Blue Square Real Estate Ltd., owns, leases and develops income producing commercial properties and projects. In addition, Alon Blue Square through its 100% subsidiary, Alon Cellular Ltd, operates an MVNO network in Israel, through Diners Club Israel Ltd., an associate held at 49%, which operates in the sector of issuance and clearance of YOU credit cards to the customer club members of the group and through Dr. Baby Marketing and Distribution 888 Ltd. 100 % held subsidiary as a retailer and wholesaler in the baby products sector.
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