17th Jul 2015 07:35
LONDON (Alliance News) - BSD Crown Ltd Friday announced a shuffle of its board, with Chairman Oleksandr Granovskyi resigning with immediate effect and Gregory Gurtovoy being appointed to the board and as chairman in his place.
Eyal Merdler also is resigning from his position as chief financial officer and company secretary with immediate effect. Emil Budilovsky, current executive director and vice-president of business development, as been appointed as joint chief executive officer alongside Israel Schneorson, who is also appointed as chief financial officer and company secretary.
Additionally Oleksander Avdyeyev has been appointed as a director.
The changes follow Granovskyi selling shares equivalent to 90% of the voting rights in Israel 18 on Wednesday. Israel 18 is the controlling shareholder of BGI Investments Ltd, which in turn owns around 25% of the total issued share capital of BSD Crown, and controls in total 44% of the voting rights in BSD Crown.
Israel-based BSD Crown used to be a mobile technology and software company called Emblaze, but switched focus after it acquired a controlling stake in Willi-Food last year. Its main activity is now the importing, marketing and distribution of food products to retail chains, supermarkets, wholesalers and institutions mainly in Israel.
Shares in BSD Crown are down 7.6% early Friday morning to 20.57 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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