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Gazit Globe Announces the Appointment of Adi Jemini, CPA, as Its Next Chief Financial Officer

TEL-AVIV, Israel, Aug. 24, 2015 (GLOBE NEWSWIRE) -- Gazit-Globe (NYSE:GZT) (TSX:GZT) (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 Mr. Adi Jemini has been appointed as the Company's Chief Financial Officer and as a member of its Executive Committee, effective as of April 1, 2016, following a transition process. Mr. Jemini will succeed Mr. Gil Kotler, who is stepping down as the Company's EVP and CFO after 18 years of service.

Mr. Jemini, 37, a Certified Public Accountant, has previously held several senior positions within the Company. For the past three years he has served as Chief of Staff to the Company's Chairman, Mr. Chaim Katzman. Jemini has worked closely with the senior management teams of all of the Company's subsidiaries. He has also been involved in the M&A activity of the Group.

Previously, Mr. Jemini served for almost three years as Regional Controller of Equity One Inc., the Company's U.S. subsidiary. In this position, he was responsible for the entire West Coast and South Florida regions, with direct supervisory authority over the finance accounting of more than 60 of Equity One's shopping centers with an aggregated value of approximately $1.7 billion and generating an annual net operating income (NOI) in excess of $100 million.

Prior to joining Gazit-Globe, Mr. Jemini served for seven years in a US affiliate of the global accounting firm Deloitte, in the audit and assurance practice where his last position was that of an Audit Manager for international companies active mainly in the real estate sector.

Mr. Jemini holds a Bachelor of Science degree in Accounting and Information Systems from the Virginia Polytechnic Institute and State University (Virginia Tech), graduating summa cum laude in 2003. He has been a Certified Public Accountant in the U.S. since 2005.

The Company's incoming CEO, Mrs. Rachel Lavine commented: "Adi brings a unique combination of knowledge and experience, together with a diverse skill set that complements the Company's core businesses, including an in-depth understanding of financial processes in global markets as well as practical operational experience in the shopping center industry, and a thorough knowledge and understanding of our subsidiaries. I look forward to working together with Adi at this pivotal time in the Company's growth."

Mr. Gil Kotler will step down as the Company's Senior Executive VP and Chief Financial Officer on 31 March 2016, after 18 years of dedicated service and following an orderly handover of his responsibilities to Mr. Jemini.

Mrs. Lavine added: "During his 18 years of outstanding service to the Company, Gil has played a leading and crucial role in all of the significant milestones in the Company's history. His excellent professional abilities, together with his leadership qualities, have made him into one of the cornerstones of the Company. On behalf of the Board of Directors and the entire Company, I would like to express our profound thanks and appreciation to Gil for his many invaluable contributions to the Group's growth in both global and local markets and to wish him the very best of luck and every success in his future endeavors."

Gil Kotler commented: "It has been a privilege to play a part in the building of the Company, as well as in its impressive growth since 1998. I would like to thank Chaim Katzman and Dori Segal for all the professional knowledge, support and co-operation which they have given to me over all these years, and for the know-how and experience which I will be able to put to constructive use in my future career. I would also like to thank all of my colleagues at Gazit-Globe for their partnership and friendship throughout my time with the Company, and to wish Rachel and Adi every success in their new positions."

About Gazit-Globe

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 June 30, 2015 Gazit-Globe owns and operates 453 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$ 20 billion.

FOR ADDITIONAL INFORMATION

Investors Contact: IR@gazitgroup.com, Media Contact: press@gazitgroup.com

Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000

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

Source:Gazit-Globe