Israeli supermarket chain Shufersal CEO to step down in March

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JERUSALEM, Jan 23 (Reuters) - The chief executive of Israel's largest supermarket chain, Shufersal (SAE.TA), plans to step down at the end of March after a decade in the position, the company said on Sunday.

The company's board has established a search committee, headed by the chairman, to replace Itzhak Abercohen, who has been with the company since 2000.

Under Abercohen, Shufersal became the largest retail group traded on the blue chip Tel Aviv 35 index (.TA35). He also pushed to develop Shufersal's own private brand and its online shopping site that now accounts for some 20% of total sales.

In November, Shufersal -- which also operates a chain of drugstores -- reported a 3.6% decline in third-quarter net profit to 82 million shekels ($26 million), while revenue in the period also fell 3.6% to 3.8 billion shekels.

($1 = 3.1434 shekels)

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Reporting by Steven Scheer Editing by Ari Rabinovitch

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