Aviv Group CEO Salary: 140,000 Shekels and Substantial Bonuses

The general meeting of shareholders of the Aviv Group has approved the appointment of Itay Vaknin as the company's CEO. Vaknin will replace Dafna Harlev, the controlling shareholder and director of the company, who will vacate the CEO chair to serve as active co-chair of the board of directors alongside her brother, Doron Aviv, under conditions identical to her current tenure terms.

Vaknin is returning to the Aviv Group. The appointment follows his tenure from June 2024 until 2026 as the CFO of the real estate giant Mivne. Previously, between 2022 and 2024, he served as deputy CEO and CFO at Aviv Real Estate Development and Management Ltd., and before that, from 2017 to 2022, he served as the CFO of Aviv & Co. Real Estate.

According to his employment terms, his fixed monthly employment cost will be approximately 140,000 shekels. In addition, he will be entitled to an annual bonus conditional on measurable targets in the amount of up to 8 monthly salaries (equivalent to 1.12 million shekels), alongside a discretionary bonus of up to 3 salaries, provided that the total annual bonus does not exceed 8 salaries.

Vaknin is also expected to receive restricted stock units (RSU) worth 0.3% of the company's capital (about 90,700 units). The shares will vest gradually over 5 years — 20% each year — provided he continues to serve in his position.

Doron Aviv, chairman of the Aviv Group, and Dafna Harlev, the incoming co-chair, stated in response:

"The appointment of Itay Vaknin comes at a significant stage for the group, and we are happy about his return and are confident that he is the right person to lead its operations in the next phase. We believe that his experience will help advance the group in the coming years, and we wish him great success in his role."