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Gazit-Globe names board chairman, announces repurchase programs

Israeli real estate operating and management company Gazit-Globe Ltd. appointed former CEO and president of Israel Discount Bank of New York Ltd. Ehud Arnon its new chairman of the board.

Arnon replaces Chaim Katzman, who stepped down from the post in January to assume his duties as CEO of the company and as vice chairman of the board.

The shopping center landlord also authorized new repurchase programs for up to 250 million new Israeli shekels each of its common shares and debentures from April 1 through March 31, 2019.

The previous repurchase programs, which ended March 31, allowed the company to repurchase up to 150 million shekels of its common shares and up to 250 million shekels of its debentures.

Additionally, the company will distribute a quarterly dividend of 38 Israeli agorot per share April 24 to shareholders on record as of April 12, as reported earlier.

As of March 28, US$1 was equivalent to 3.50 Israeli new shekels.