Victory for Amit Gal emerging: 'Ha-Bayta' representatives not elected to Orion board

Yoav Karmi and Ariel Prestman, the two owners and managers of Ha-Bayta Living, will not join the Orion board of directors, as indicated by the initial vote count at the company's shareholders' meeting. The candidates required a majority of 51% of the participants to join the board, a threshold they apparently failed to reach according to the votes counted near the end of the session.

A similar outcome is observed regarding the other two candidates from the Mor investment house group and Ha-Bayta Living, Yossi Zeitouni and Yishai Sasson. Mor holds 18% of Orion's shares, a company that includes only three assets in Poland and was spun off from G City by controlling shareholder Chaim Katzman in an effort to reduce the company's leverage. Katzman's move sparked controversy in the market, and Orion's stock has fallen by approximately 35% since it began trading.

The opposition to the candidacy of Prestman and Karmi—the former CFO and CEO of the real estate company GTC—was led by the Capital Market Authority, headed by Amit Gal, which argued that Mor was overstepping its role and attempting to intervene in corporate management. According to the voting results, Eran Yaakov, the former chairman of the Tax Authority, will remain chairman of Orion. He is supported by Katzman, as well as director Keren Khalifa, the incoming CEO of G City.