January 9, 2018 / 8:06 AM / 7 months ago

Katzman to replace Segal as CEO of Israel's Gazit-Globe

TEL AVIV, Jan 9 (Reuters) - Israeli real estate developer Gazit-Globe Ltd said on Tuesday Dori Segal is stepping down as chief executive on January 31 and will be replaced by Chairman Chaim Katzman.

Katzman has served as chairman of the company’s board since 1995 as well as chairman of subsidiaries Atrium European Real Estate and Citycon. He is also chairman and CEO of Norstar Holdings Inc, controlling shareholder of Gazit-Globe.

Katzman will step down as chairman of Gazit-Globe and Norstar prior to becoming CEO and will thereafter serve as vice chairman at both the company and Norstar.

Segal was CEO of Gazit-Globe between 1998 and 2008 and again from 2017. He will also leave his position of vice chairman but remain a board member of the company and chairman of Canada’s First Capital Realty (FCR).

“I welcome Dori’s willingness to accept the board’s and my request to focus his attention on FCR,” Katzman said. “Gazit-Globe continues to focus on the implementation of its strategy, namely increasing the direct ownership of urban retail and mixed use assets, while further strengthening its balance sheet. As CEO I intend to personally oversee this course.” (Reporting by Tova Cohen, Editing by Ari Rabinovitch)

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