Elron Ventures Ousts Chairwoman Lisi Bakar Manoch Amid Bitter Shareholder Feud
Elron Ventures chairwoman Lisi Bakar Manoch was ousted by co-controllers Arik Bentov and Evan Rennert, sparking potential legal action. The bitter shareholder dispute involves a 100 million shekel debt to Phoenix Holdings and boardroom restructuring.
The boardroom battle at Elron Ventures has escalated dramatically as the company announced the ousting of chairwoman Lisi Bakar Manoch. Bakar Manoch has already issued a legal warning letter challenging her removal, signaling that the fierce shareholder dispute is heading toward a courtroom showdown. Controlling shareholders Arik Bentov and Evan Rennert spearheaded the move to remove their third equal partner, Bakar Manoch. Each holding a one-third stake in the controlling group, Bentov and Rennert pushed a board resolution to replace Bakar Manoch, who had served as chairwoman since Arieli Technologies acquired Elron.
Boardroom Shakeup and Appointments
The board of directors, comprising seven members including four independents, approved the proposal by a majority vote. Alongside the leadership change, Yaniv Rog and Ido Heller joined the board, with Dana Garner, former CFO of Cellebrite, slated to join. Arieli seized control of the high-tech holding company Elron in September 2024, acquiring a 58% stake for 53 million dollars. Tensions between Bentov, Rennert, and Bakar Manoch have boiled over in recent months, culminating in Bakar Manoch filing a police complaint regarding alleged threats.
Financial Disputes and Phoenix Holdings
Bentov and Rennert accused Bakar Manoch of obstructing a debt settlement agreement with Phoenix Holdings, to which Arieli owes 100 million shekels stemming from the acquisition loan. They claimed she attempted to force a discounted sale of pledged shares to a third party. Meanwhile, an interim agreement was reached with Phoenix Holdings, granting the investment house roughly 20 million shekels in exchange for a time extension. Elron reported that the board dismissed Bakar Manoch's claims of conflicts of interest and improper motives, appointing Danny Luz as interim chairman.
