JERUSALEM, Oct 22 (Reuters) - Israeli real estate developer Azrieli Group said on Sunday it named Eyal Chenkin as its new chief executive after Yuval Bronstein decided to step down at the end of 2017 after five years as CEO and 11 years with the company.
Chenkin, 48, will take over as CEO on Jan. 1, 2018, Azrieli said in a statement.
Since 2010, he has served as CEO of Supergas Israel Gas Distribution Co, a wholly owned subsidiary of Azrieli. In this time he led Supergas to a surge in its net profit and a more than 50 percent decline in its debt.
Azrieli Chairwoman Danna Azrieli said the company -- which built Tel Aviv’s Azrieli office and shopping complex -- was in the midst of a development boom of 600,000 square meters valued at 5 billion shekels ($1.4 billion).
$1 = 3.4896 shekels Reporting by Steven Scheer