July 9, 2018 / 6:50 AM / 8 months ago

Israel's Strauss Group CEO Lesin steps down due to illness

TEL AVIV, July 9 (Reuters) - Strauss Group Chief Executive Officer Gadi Lesin will step down for medical reasons and Giora Bardea, who has been leading the company in recent months, will serve as acting CEO, the Israeli foodmaker said on Monday.

Lesin has been CEO since 2009, during which time the company’s market value has more than doubled to 8.65 billion shekels ($2.4 billion), sales rose to 8.5 billion shekels in 2017 and its international operations have been significantly strengthened.

Bardea previously served as deputy CEO of Strauss, the second-largest company in the Israeli food and beverage sector.

Strauss is one of the market leaders for roast and ground coffee in central and eastern Europe and Brazil.

$1 = 3.6213 shekels Reporting by Tova Cohen; editing by Jason Neely

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