Rami Levy's son-in-law's salary up for re-approval

Rami Levy shareholders will be asked to change the benefits formula and other bonuses to which the CEO’s son-in-law is entitled.

By YEHUDA SHARONI/MAARIV

JUNE 28, 2022 17:50

Exterior of Rami Levy HaShikma Marketing supermarket in Givat Shaul, Jerusalem, Israel. (photo credit: YONINAH/WIKIMEDIA COMMONS) — Exterior of Rami Levy HaShikma Marketing supermarket in Givat Shaul, Jerusalem, Israel.

(photo credit: YONINAH/WIKIMEDIA COMMONS)

You've shopped in Rami Levy Shivuk Hashikma, but do you know which of his family members are involved in the business?

Business owner Rami Levy's son and daughter already work at the company, and he will hold a general shareholder meeting to approve the employment terms of his son-in-law, Ophir Atias.

What does Ophir Atias do at Rami Levy?

Atias currently serves as VP of Business Development, and the meeting is to re-approve a monthly salary of NIS 31,800 for three years.

Shareholders will be asked to change the remuneration formula.

Israeli soldiers walk past Rami Levy chain store in the Israeli Sha'ar Binyamin Industrial Zone in the West Bank (credit: REUTERS/AMMAR AWAD)

Unlike previous years, the new formula will not include any losses accumulated by the company for three years prior.

Shareholders will also be asked to approve changes in remuneration for senior employees who retire.

Upon leaving the company, they will be offered an adjustment grant, which isn’t currently available. Apart from being the CEO, Levy is the controlling owner (40%) of Shivuk Hashikma.

The number of his family members employed by the company is one of the largest in public Israeli companies.