YAVNE, Israel, December 13, 2017 /PRNewswire/ --
G. Willi-Food International Ltd.
(NASDAQ: WILC) (the "Company" or "Willi-Food"),
a global company that specializes in the development, marketing and
international distribution of kosher foods, announced today that
the Company's Board of Directors approved the appointment of Mr.
Michael Luboschitz as its new CEO, effective as of January 1, 2018.
Mr. Luboschitz served since January
2012 as the VP Commerce & Sales of S.Schestowitz Ltd.,
an Israeli company which represents, imports, markets and
distributes international and local brands in consumer goods and
cosmetics, where he was responsible for hundreds of employees.
Prior to that, from 2008 until December
2011, Mr. Luboschitz served as Chairman of the Board of
Directors and CEO of MANA Ltd, an Israeli company founded by Mr.
Luboschitz specializing in producing rice cakes, soup additives and
a wide variety of salty snacks. In addition, Mr. Luboschitz
established a culinary brand called "Master Chef". From 1984 until
2008, Mr. Luboschitz served in various positions at Sano Ltd., an
Israeli company that manufactures, distributes and markets
detergent products in Israel and
worldwide. His last position at Sano was VP Marketing, Sales &
Operation, and CEO of all of Sano's subsidiaries.
The terms of office of Mr. Luboschitz are similar to those of
the current CEO of the Company, and will be brought for approval by
the shareholders at the next shareholders meeting of the
Company.
ABOUT G. WILLI-FOOD INTERNATIONAL LTD.
G. Willi-Food International Ltd. (http://www.willi-food.com) is
an Israeli-based company specializing in high-quality,
great-tasting kosher food products. Willi-Food is engaged directly
and through its subsidiaries in the design, import, marketing and
distribution of over 600 food products worldwide. As one of
Israel's leading food importers,
Willi-Food markets and sells its food products to over 1,500
customers in Israel and around the
world including large retail and private supermarket chains,
wholesalers and institutional consumers. The company's operating
divisions include Willi-Food in Israel and Gold Frost, a wholly owned
subsidiary who designs, develops and distributes branded kosher,
dairy-food products.
FORWARD LOOKING STATEMENT
This press release contains forward-looking statements within
the meaning of safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 relating to future events or our
future performance, such as statements regarding trends, demand for
our products and expected sales, operating results, and earnings.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to be
materially different from any future results, levels of
activity, performance or achievements expressed or implied in those
forward-looking statements. These risks and other factors include
but are not limited to: monetary risks including changes in
marketable securities or changes in currency exchange rates-
especially the NIS/U.S. Dollar exchange rate, payment default by
any of our major clients, the loss of one of more of our key
personnel, changes in laws and regulations, including those
relating to the food distribution industry, and inability to meet
and maintain regulatory qualifications and approvals for our
products, termination of arrangements with our suppliers, in
particular Arla Foods, loss of one or more of our principal
clients, increase or decrease in global purchase prices of food
products, increasing levels of competition in Israel and other markets in which we do
business, changes in economic conditions in Israel, including in particular economic
conditions in the Company's core markets, our inability to
accurately predict consumption of our products and changes in
consumer preferences, our inability to protect our intellectual
property rights, our inability to successfully integrate our recent
acquisitions, insurance coverage not sufficient enough to cover
losses of product liability claims and risks associated with
product liability claims. We cannot guarantee future results,
levels of activity, performance or achievements. The matters
discussed in this press release also involve risks and
uncertainties summarized under the heading "Risk Factors" in the
Company's Annual Report on Form 20-F for the year ended
December 31, 2016, filed with the
Securities and Exchange Commission on April
27, 2017. These factors are updated from time to time
through the filing of reports and registration statements with the
Securities and Exchange Commission. We do not assume any obligation
to update the forward-looking information contained in this press
release.
Company Contact:
G.Willi-Food International Ltd.
Amir Kaplan, Chief Financial
Officer
(+972)8-932-1000
Amir.k@willi-food.co.il
SOURCE G. Willi-Food International Ltd.