22nd Sep 2015 07:44
LONDON (Alliance News) - Plaza Centers NV Tuesday said that Chief Executive Akiva Azulay and Chairman Ron Hadassi have resigned from their roles at the company.
The shopping centre developer said that Hadassi will be replaced by Yoav Kfir, but did not mention a replacement for Azulay.
On Monday, Plaza Centers revealed that it had received a notice from a major shareholder to convene a general meeting of the company to remove four non-executive directors from the board.
Elbit Ultrasound (Luxembourg) BV/Sarl, which owns a 44.9% stake in Plaza Centers, had called the meeting and proposed the removal of non-executive directors Marco Wichers, Sarig Shalhav, Shlomi Kelsi and Yoav Kfir. It also proposed amending the company's articles of association to cut the size of the board to a maximum of five directors, from the current eight.
Shares in Plaza Centers were untraded on Tuesday, last quoted at 2.75 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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