Alon Holdings Blue Square-Israel Announces Appointment of Motti Keren as CEO
of its Subsidiary, Mega Retail
ROSH HAAYIN, Israel, November 22, 2012
ROSH HAAYIN, Israel, November 22, 2012 /PRNewswire/ --
Alon Holdings Blue Square - Israel Ltd. (NYSE: BSI) (hereinafter: "Alon
Holdings") announced today that Mr. Motti Keren has been appointed to serve as
the Chief Executive Officer of Megal Retail Ltd., the Company's subsidiary
operating supermarkets under different formats, commencing January 1, 2013.
Mr. Keren joins Mega Retail with management experience in the food industry,
both domestically and internationally. Most recently, Mr. Keren has served as
the President of Unilever Central Europe, which covers six countries, where he
led the business to growth with improved profitability and market share.From
2005 to 2010, Mr. Keren served as the CEO and Chairman of Unilever Israel,
where he developed and executed a five-year business strategy to turn around
an under-performing business, and from 2001 to 2004, he served as the Supply
VP of Unilever Israel where he led a workforce of 1,000 employees across five
production sites. Mr. Keren holds a BA and an MBA from Tel Aviv University.
David Wiessman, Executive Chairman of the Board of Directors and Chief
Operating Decision Maker said, "We are pleased that Motti has agreed to join
our team. We believe Mega Retail will benefit from his broad management
Alon Holdings Blue Square- Israel Ltd. (hereinafter: "Alon Holdings") is the
leading retail company in the State of Israel and operates in four reporting
segments: In its supermarket segment, Alon Holdings, through its 100%
subsidiary, Mega Retail Ltd., currently operates 213 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 "Non-Food" segment, Alon Holdings, through its 100% subsidiary BEE Group
Retail Ltd., operates specialist outlets in self operation and franchises and
offers a wide range of "Non-Food" products as retailer and wholesaler. In the
Commercial and Fueling Sites segment, through its [78.43]% 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.
Dor Alon operates a chain of 202 petrol stations and 209 convenience stores in
different formats in Israel. In its Real Estate segment, Alon Holdings,
through its TASE traded [78.22]% subsidiary Blue Square Real Estate Ltd.,
owns, leases and develops yield generating commercial properties and projects.
This press release contains forward-looking statements within the meaning of
safe harbor provisions of the U.S. Private Securities Litigation Reform Act of
1995.Forward-looking statements may include, but are not limited to, plans or
projections about our business and our future revenues, expenses and
profitability. Forward-looking statements may be, but are not necessarily,
identified by the use of forward-looking terminology such as "may,"
"anticipates," "estimates," "expects," "intends," "plans," "believes," and
words and terms of similar substance.Forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause actual
events, results, performance, circumstance and achievements to be materially
different from any future events, results, performance, circumstance and
achievements expressed or implied by such forward-looking statements. These
risks, uncertaintiesand other factors include, but are not limited to, the
following: the effect of the recession in Israel on the sales in our stores
and on our profitability; our ability to compete effectively against
low-priced supermarkets and other competitors; quarterly fluctuations in our
operating results that may cause volatility of our ADS and share price; risks
associated with our dependence on a limited number of key suppliers for
products that we sell in our stores; the effect of an increase in the minimum
wage in Israel on our operating results; the effect of any actions taken by
the Israeli Antitrust Authority on our ability to execute our business
strategy and on our profitability; the effect of increases in oil, raw
material and product prices in recent years; the effects of damage to our
reputation or to the reputation of our store brands due to reports in the
media or otherwise; and other risks, uncertainties and factors disclosed in
our filings with the U.S. Securities and Exchange Commission(SEC), including,
but not limited to, risks, uncertainties and factors identified under the
heading "Risk Factors" in our annual report on Form 20-F for the year ended
December 31, 2011 and our Registration Statement on Form F-3 (File no.
333-177138) filed on May 31, 2012.You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
of this press release.Except for our ongoing obligations to disclose material
information under the applicable securities laws, we undertake no obligation
to update the forward-looking information contained in this press release.
Alon Holdings Blue Square-Israel Ltd.
SOURCE Alon Holdings Blue Square-Israel Ltd
Press spacebar to pause and continue. Press esc to stop.