The Amirov brothers, who recently acquired a controlling stake in the Shufersal retail chain, faced criticism for attempting to appoint Professor Yitzhak Shapira as the chairman of the board of directors. This move was met with opposition from economic circles before it could be approved by the Securities Market Supervision Authority. In response to this, the Ministry of Health stepped in and blocked the appointment.
Initially, the Amir brothers planned to retain their positions as general director and chairman of the board of directors for themselves. However, this was not allowed due to concerns about conflicts of interest by securities market management. As a result, they appointed themselves as general directors while Professor Shapira was intended to serve as a ceremonial chairman of the board.
This decision sparked controversy and led to intervention from the Ministry of Health, which prevented dual leadership positions in order to avoid conflicts of interest. This incident highlights the importance of transparency and careful consideration when it comes to corporate governance.
