Alon Holdings Blue Square-Israel Announces Appointment of Motti
Keren as CEO of its Subsidiary, Mega Retail
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
experience."
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,
uncertainties and 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.
Contact:
Alon Holdings Blue Square-Israel Ltd.
Ortal Klein
Corporate Secretary
Telephone: +972-9-9618504
Fax: +972-9-9618636
Email: ortal.klein@alon-oil.co.il
SOURCE Alon Holdings Blue Square-Israel Ltd