Corporate Governance

The crisis at Tomer Mazon is deepening as the board meeting is postponed to September 17. Stock trading remains suspended amid accounting irregularities and high-profile resignations.

An in-depth audit at Cohen Properties revealed that controlling shareholder Mike Cohen withdrew more funds than previously reported. Cohen is stepping down as CEO but will remain on the board. Despite the need to restate past financial reports, the company is taking active steps to stabilize its liquidity and recover the funds.

An audit at the Best group revealed that 2.2 million shekels from a subsidiary were used to pay for private property work for controlling shareholders. The company will restate its 2025 and Q1 2026 financial reports.

The real estate company Polygon, controlled by Kobi Maimon, has turned to the Central District Court to appoint external directors. The company has been operating without them for over a year, leading to unlawful financial reporting.

A shareholder of the Ashdod oil refinery has filed a request with the Tel Aviv District Court to disclose documents regarding the company's relationship with Shapir Engineering. The plaintiff is preparing a derivative lawsuit, alleging that the board of directors unlawfully granted Shapir de facto control over the refinery.

Due to a shortage of external directors, Israel Railways is unable to approve financial statements. The Securities Authority has warned that this paralyzes oversight and threatens the trading of the company's bonds.

Over the weekend, reports of irregularities emerged in two new companies on the Tel Aviv Stock Exchange: Best and Tomer Mazon. While in one case the funds taken by owners were returned, in the other, the CFO's resignation serves as a significant warning sign.

After nearly a decade, the chairman of the Tata Group has announced he will step down amid power struggles at the top. The battle over his successor comes as the group faces difficulties at Air India and turmoil in its technology business. The companies within the Indian business empire are worth a combined total of approximately $320 billion.

Novolog CEO Aviad Bosi and CFO Yaniv Vidavsky will leave their positions in four months. The departure follows the Pozis family's move to secure a 44% controlling stake and replace the board of directors. Oded Pozis is expected to spearhead a new strategic plan for the company.

The Capital Markets Authority is demanding data from institutional bodies regarding their votes at public company meetings over the last 3 years. This involves hundreds of votes per body, and the institutions have turned to their voting advisory body on compensation issues to help them meet the Authority's deadline.

The Capital Market Authority is intervening for the first time to limit institutional involvement in public company management. The regulator is demanding clarifications from the Mor investment house regarding its actions in Orion.

In family businesses, the most dangerous moments are often the quiet ones. When silence stems from the fear of raising explosive topics, it becomes a ticking time bomb that erodes the foundation of the company.

A power struggle is unfolding at Novolog between controlling shareholder Ehud Pozis and businessman Eli Dahan. Dahan has proposed a 100 million shekel investment in exchange for a 21% stake in the company.

For the second time in a year, institutional investors have rejected Elco Medical's proposal to outsource US software distribution to the daughter of controlling shareholder Moshe Ben-Shaul.

Israeli 3D printer manufacturer Nano Dimension is at the center of a corporate battle as activist fund Murchinson gains influence. The struggle centers on the company's significant cash reserves and the future of its strategic direction.

An internal audit at Cohan Properties revealed that CEO Mike Cohan used millions of dollars in company funds for private assets. Despite claims of repayment, the outstanding debt stands at approximately $3.8 million as of July 29.