During his Tenure the Equity Market Capitalization of the Company Grew by 165% from NIS 3.25 Billion to NIS 8.6 Billion and its Total Return to Shareholders was 140% vs. 87% of the EPRA Global Index
Chaim Katzman and Dori Segal: "Roni is one of the cornerstones of the Group and had a big part in its transformation into a global company operating in over 20 countries with assets under management of approximately US$ 21 billion."
TEL-AVIV, Israel, June 1, 2015 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:TSX) (TASE:GZT), one of the world's leading multi-national real-estate companies focused on the management, acquisition, development and redevelopment of supermarket-anchored shopping centers in major urban markets, announced today that Roni Soffer, its President, is stepping down towards the end of the year after serving the Company for 19 years of which 6.5 years were as president. Rachel Lavine will be appointed President of Gazit-Globe.
Rachel (Rocha) Lavine served over the last 6 years as CEO of the Company's subsidiary, Atrium, and currently serves as Chairman of Gazit-Globe Israel, Deputy Chairman of Atrium, and as a director on the boards of Gazit-Globe and Citycon.
Soffer (44) joined Gazit-Globe in 1997 as an analyst and served in a number of senior positions. During his tenure, Mr. Soffer gained expertise in health care and retail real-estate and was involved in the M&A activity and the global development of the Group. In 2001, he became a vice president in Gazit-Globe and in 2002 he was named President and CEO of Gazit-Group USA in Miami, Florida, where he established and managed the Group's healthcare real estate private platform while working on the M&A and capital markets fronts globally.
In 2009, he was appointed Gazit-Globe's President. He also serves as executive Chairman of ProMed Properties and as a director of Atrium and other subsidiaries of the Group. In 2011 he led Gazit-Globe's IPO on the New York Stock Exchange (NYSE) and in 2013 its listing on the Toronto Stock Exchange (TSX). For the last few months, Soffer has served as interim CEO of Dori Group and assisted in its stabilization efforts.
During his tenure at Gazit Globe, total return to shareholders was approximately 140 % compared to an increase of about 87% in the EPRA Global and the Company's equity market capitalization increased by 165 % from NIS 3.25 billion in 2009 to NIS 8.6 billion in 2015; the Company's annual dividend to shareholders increased by 30 % from NIS 1.42 to NIS 1.84 per share; LTV decreased from 66.7 % to 49.3 %; and the Company's local credit rating was upgraded by S&P from Ail+ negative to AAil- and from A1 to Aa3 by Midroog.
Chaim Katzman and Dori Segal: "We are proud of Roni's career path which is deeply intertwined with the global growth story of Gazit-Globe. Roni is one of the cornerstones of the Group and played a big part in its transformation into a global company operating in over 20 countries with assets under management of approximately US$ 21 billion. Roni has many years ahead of him in senior management positions in many other fields of his choice. Any organization in which he will work with will greatly benefit from his capabilities and we wish him all the best in his future endeavors." Roni Soffer: "After 19 intense years at Gazit-Globe, which in fact, was my only workplace, I decided to step down and turn to new personal and professional challenges. I had the privilege of working in one of the world's leading real estate companies and to share in its transformation from a small Israeli based company into a significant global player. I am grateful to Chaim Katzman and Dori Segal, for the partnership and friendship that they gave me over the years, as well as to the Group's various management teams and employees globally."
Gazit-Globe is one of the largest owners, developers and operators of predominantly supermarket-anchored shopping centers in major urban markets around the world. Gazit-Globe is listed on the New York Stock Exchange (NYSE:GZT), the Toronto Stock Exchange (TSX:GZT) and the Tel Aviv Stock Exchange (TASE:GZT) and is included in the TA-25 and Real-Estate 15 indices in Israel. As of December 31, 2014 Gazit-Globe owns and operates 524 properties in more than 20 countries, with a gross leasable area of approximately 6.3 million square meters and a total value of approximately US$ 21 billion.
FOR ADDITIONAL INFORMATION
A comprehensive copy of the Company's annual report is available on Gazit-Globe website at www.gazit-globe.com
Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000 / New York Office, Tel: +1 212 897 9741
FORWARD LOOKING STATEMENTS
This release may contain forward-looking statements within the meaning of applicable securities laws. In the United States, these statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of known and unknown risks and uncertainties, many of which are outside our control, that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks detailed in our public filings with the SEC and the Canadian Securities Administrators. Except as required by applicable law, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.
CONTACT: Gazit-Globe Ltd. 1 HaShalom Rd. Tel Aviv, Israel 67892 +972 3 694 8000 For additional information: Gil Kotler, Senior Executive VP and CFO