Rami Levy founder and CEO of low cost grocery store chain Rami Levy Chain Shops Hashikma Advertising and marketing 2006 Ltd. (TASE: RMLI) has appointed his daughter Yafit Attias as co-CEO. The corporate’s board of administrators has authorized the appointment, which should now be authorized by the annual shareholders assembly and he or she is predicted to change into co-CEO on January 1, 2025.
The corporate mentioned that Attias will give attention to the grocery store chain’s loyalty membership, advertising and marketing, promoting, operations and particular initiatives. Attias started working at her father’s firm 25 years in the past and has served in a spread of positions and for the previous decade has been VP advertising and marketing.
Rami Levy mentioned, “For a few years Yafit has taken an energetic half within the administration of the group, throughout which period she has consolidated her administration capabilities and abilities. The administration and I are delighted to nominate her to the place of co-CEO within the group, and she’s going to assist lead the enterprise and advertising and marketing improvement of the corporate.”
He added, “Yafit has served because the group’s VP advertising and marketing and developed our loyalty membership, the advertising and marketing division and the connection with the suppliers on the gross sales ground. Yafit has been a full accomplice in forming the technique for logistics, operations, the corporate’s personal model, constructing the corporate’s new advertising and marketing plan, and extra. Her actions within the area of promoting have contributed tremendously to the truth that the Rami Levy model is understood in each dwelling in Israel. Yafit is an asset within the retail sector, and I’m certain that collectively we are going to proceed to understand the technique and deepen and develop the group’s areas of exercise.”
Attias mentioned, “I’m proud to be a part of a series that has grown to be the chief within the retail market and to win the belief of our prospects as the most cost effective basket within the nation, yr after yr. I thank the administration that entrusts me with the duty of constant to develop the chain and produce it to new heights in a aggressive market.”
Rami Levy informed “Globes,” “The time has come, after she has studied and purchased all of the data. The enterprise is growing and rising. We are going to divide the work between us, every in sure areas, which can depart me time to develop in different instructions, to develop current corporations and find extra corporations, companies and property, with the goal of getting into extra areas. The corporate just isn’t solely meals retailing, and we are going to proceed to develop Good Pharm, Communications and Cofix to create synergy and serve the purchasers.”
“Inheritor is a tough phrase, as a result of it is my father”
Attias, who has a BA, MBA and legislation diploma has been groomed from the outset to change into CEO, with Levy coaching her in recent times to take up the place alongside him. When listed by “Globes’ as probably the most promising younger Israelis of 2018 she informed G journal, “Inheritor is a tough phrase, as a result of it’s my father.” However I do know that my father trusts me and my judgment very a lot. He follows my exercise and is aware of that I’m aware of all of the departments and all the workers.”
RELATED ARTICLES
Rami Levy grooming daughter to be subsequent CEO
“In fact, when the second comes, if I really feel that I am not prepared but, I will not take it. I am nonetheless within the studying part. It is a complicated enterprise, definitely in terms of a inventory alternate firm. However I push right here, and my father pushes me there, helps me, teaches me, sits down with me on the monetary statements. I already stay the sphere, and transfer round between the branches and meet the managers. He’s my mentor on this planet of the inventory market.”
Comparatively weak monetary outcomes
Rami Levy’s monetary experiences for the second quarter and first half of 2024, revealed final month, confirmed comparatively weak outcomes for the chain regardless of the advance within the earnings of its rivals, who because of the struggle benefited from the stoppage of flights overseas and elevated consumption by home prospects, in addition to worth rises within the business.
Within the second quarter of 2024, Rami Levy’s working revenue fell by virtually 22% in contrast with the corresponding quarter final yr, to NIS 94 million. The chain mentioned the autumn in earnings was resulting from low cost provides for Passover (which came about on the finish of April this yr, and final yr came about within the first quarter), in addition to the struggle, which led to a drop in gross sales in branches within the north of the nation, and the chain’s determination to cut back on-line gross sales resulting from a scarcity of manpower. The branches of Rami Levy that had been hit hardest had been in Kiryat Shmona, Akko and Nahariya.
The chain’s income rose 0.7% within the first half of 2024 to NIS 3.58 billion and working revenue rose 10% to NIS 183 million. Web revenue within the first half of 2024 rose 22% to Nis 130 million, in contrast with NIS 108 million within the first half of 2023.
Printed by Globes, Israel enterprise information – en.globes.co.il – on September 10, 2024.
© Copyright of Globes Writer Itonut (1983) Ltd., 2024.
