During his Tenure the Equity Market Capitalization of the Company Grew by 165% from NIS 3.25 Billion to NIS 8.6 Billion and its Total Return to Shareholders was 140% vs. 87% of the EPRA Global Index.
Chaim Katzman and Dori Segal: “Roni is one of the cornerstones of the Group and had a big part in its transformation into a global company operating in over 20 countries with assets under management of approximately US$ 21 billion.”
TEL-AVIV, ISRAEL; June 1, 2015 – Gazit-Globe (NYSE; TSX; TASE: GZT), one of the world’s leading multi-national real-estate companies focused on the management, acquisition, development and redevelopment of supermarket-anchored shopping centers in major urban markets, announced today that Roni Soffer, its President, is stepping down towards the end of the year after serving the Company for 19 years of which 6.5 years were as president. Rachel Lavine will be appointed President of Gazit-Globe.
Rachel (Rocha) Lavine served over the last 6 years as CEO of the Company’s subsidiary, Atrium, and currently serves as Chairman of Gazit-Globe Israel, Deputy Chairman of Atrium, and as a director on the boards of Gazit-Globe and Citycon.
Soffer (44) joined Gazit-Globe in 1997 as an analyst and served in a number of senior positions. During his tenure, Mr. Soffer gained expertise in health care and retail real-estate and was involved in the M&A activity and the global development of the Group. In 2001, he became a vice president in Gazit-Globe and in 2002 he was named President and CEO of Gazit-Group USA in Miami, Florida, where he established and managed the Group’s healthcare real estate private platform while working on the M&A and capital markets fronts globally.
In 2009, he was appointed Gazit-Globe’s President. He also serves as executive Chairman of ProMed Properties and as a director of Atrium and other subsidiaries of the Group. In 2011 he led Gazit-Globe’s IPO on the New York Stock Exchange (NYSE) and in 2013 its listing on the Toronto Stock Exchange (TSX). For the last few months, Soffer has served as interim CEO of Dori Group and assisted in its stabilization efforts.
During his tenure at Gazit Globe, total return to shareholders was approximately 140 % compared to an increase of about 87% in the EPRA Global and the Company’s equity market capitalization increased by 165 % from NIS 3.25 billion in 2009 to NIS 8.6 billion in 2015; the Company’s annual dividend to shareholders increased by 30 % from NIS 1.42 to NIS 1.84 per share; LTV decreased from 66.7 % to 49.3 %; and the Company’s local credit rating was upgraded by S&P from Ail+ negative to AAil- and from A1 to Aa3 by Midroog.
Chaim Katzman and Dori Segal: “We are proud of Roni’s career path which is deeply intertwined with the global growth story of Gazit-Globe. Roni is one of the cornerstones of the Group and played a big part in its transformation into a global company operating in over 20 countries with assets under management of approximately US$ 21 billion. Roni has many years ahead of him in senior management positions in many other fields of his choice. Any organization in which he will work with will greatly benefit from his capabilities and we wish him all the best in his future endeavors.” Roni Soffer: “After 19 intense years at Gazit-Globe, which in fact, was my only workplace, I decided to step down and turn to new personal and professional challenges. I had the privilege of working in one of the world’s leading real estate companies and to share in its transformation from a small Israeli based company into a significant global player. I am grateful to Chaim Katzman and Dori Segal, for the partnership and friendship that they gave me over the years, as well as to the Group’s various management teams and employees globally.”
About Gazit-Globe
Gazit-Globe is one of the largest owners, developers and operators of predominantly supermarket-anchored shopping centers in major urban markets around the world. Gazit-Globe is listed on the New York Stock Exchange (NYSE: GZT), the Toronto Stock Exchange (TSX: GZT) and the Tel Aviv Stock Exchange (TASE: GZT) and is included in the TA-25 and Real-Estate 15 indices in Israel. As of December 31, 2014 Gazit-Globe owns and operates 524 properties in more than 20 countries, with a gross leasable area of approximately 6.3 million square meters and a total value of approximately US$ 21 billion.