September 5, 2018 / 10:29 AM / 9 months ago

Israeli foodmaker Strauss names Bardea as CEO

TEL AVIV, Sept 5 (Reuters) - Strauss Group on Wednesday named Giora Bardea as its permanent chief executive officer after he served as interim CEO of Israel’s second-largest foodmaker the past few months.

Bardea, previously deputy CEO of Strauss, took the reins of the company after CEO Gadi Lesin stepped down in July for medical reasons. He had been leading the company for a number of months prior to Lesin’s resignation.

“His ... knowledge of the Israeli market alongside international experience, his acquaintance with our local and international partners and his partnership with Gadi Lesin in shaping the group’s strategy in the past few years, led us to the decision that he is the most suitable person to lead the group,” said Chairwoman Ofra Strauss.

Bardea, 65, led the merger between Strauss and chocolate maker Elite in 2004 and developed Strauss’ partnership with PepsiCo.

Lesin had been CEO since 2009, during which time the company’s market value has more than doubled to 9.3 billion shekels ($2.6 billion), sales rose to 8.5 billion shekels in 2017 and its international operations have been significantly strengthened.

$1 = 3.6228 shekels Reporting by Steven Scheer

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