Willi-Food is replacing its CEO

Willi-Food is replacing its CEO

Israel-based food group G. Willi-Food has announced it is replacing its CEO and CFO Gil Hochboim.

In a statement, Willi-Food said Hochboim has stepped down and is being replaced as CEO by Iram Graiver, who had previously been with technology firm TSG. 

Pavel Buber, Willi-Food's controller and secretary, has been appointed as acting CFO.

Willi-Food thanked Hochboim for his service but the company did not shed light on reasons for his exit, nor did it respond to requests for comment when approached by just-food. Hochboim had been re-appointed to the position of CEO in March after the firm replaced existing CEO Emil Budilovsky due to issues in "performance". Budilovsky had taken the reins from Hochboim in December 2014.

The announcement alongside news Willi-Food directors were terminating the management service agreements between the group and companies controlled by founders Zwi Williger and Joseph Williger.

The Williger brothers are to continue to manage the core business of the company and serve as co-presidents but will resign as directors and from all other positions within the group.

Willi-Food also did not respond when questioned on the reasons for the decision.