Gadi Cunia to Conclude His Tenure as Senior Executive VP and CFO of Gazit-Globe

Published on Monday, 02 July 2012 04:15 Written by TradersHuddle Staff

TEL-AVIV, Israel, July 2, 2012 (GLOBE NEWSWIRE) -- Gazit-Globe (TASE:GLOB) (NYSE:GZT), one of the world's leading multi-national real estate companies focused on acquisition, development and redevelopment of supermarket-anchored shopping centers announced today that Gadi Cunia will conclude his tenure as Senior Executive VP and CFO of the Company on October 1, 2012. The Company intends to appoint Gil Kotler, who previously served as the Company's CFO for 12 years, as Senior Executive VP and CFO.

In recent years, Mr. Kotler resided in Miami, Florida where he has been engaged in a wide range of strategic activity including leading the group's international financial activities. In addition, Mr. Kotler has successfully completed a program for senior executives at Harvard University.

Roni Soffer, Gazit-Globe's President commented: "I would like to thank Gadi for his contribution to the Gazit-Globe. Gadi brought to the Company extensive experience and assisted us with a number of strategic projects, including completion of the Company's initial public offering in the US and the listing of its shares on the NYSE in December 2011. I would like to congratulate Gil on his impending return to Israel and appointment as Senior Executive VP and CFO of the group. I believe the additional experience Gil has attained during his tenure in the US will significantly strengthen the group and contribute to its continued success."

ABOUT GAZIT-GLOBE

Gazit-Globe is one of the largest owners and operators of supermarket-anchored shopping centers in the world. In addition, the Company is active in North America in the healthcare real estate sector. Gazit-Globe is listed on the Tel Aviv Stock Exchange (TASE:GLOB) and is included in the TA-25 and the Real-Estate 15 indices in Israel. The Company is also listed on the New York Stock Exchange (NYSE:GZT). The Group operates properties with a total value of approximately $19.0 billion in more than 20 countries and owns and operates over 600 properties with a gross leasable area of approximately 6.7 million square meters. www.gazit-globe.com.

FORWARD LOOKING STATEMENTS

This release may contain forward-looking statements within the meaning of the U.S. federal securities laws. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of known and unknown risks and uncertainties, many of which are outside our control, that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks detailed in our public filings with the SEC. Except as required by law, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.

CONTACT: Media Contact: 
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         Gazit-Globe Headquarters
         1 HaShalom Rd.
         Tel-Aviv, Israel
         Tel: +972 3 6948000

         For additional information:
         Roni Soffer, President