YAVNE, Israel, July 10, 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.
Tim Cranko as its new CEO, effective
July 6, 2017.
Mr. Cranko served since February
2013 as the Manager of the Food Division of Galam Ltd., an
Israeli company which specializes in the manufacture and sale of a
variety of food ingredients including fructose, glucose and starch.
Prior to that, from 2009 until February
2013, Mr. Cranko served as CEO of Pharm-Up-Novolog, an
Israeli distributor of pharmaceutical products. From 2005 until
2009, Mr. Cranko served as the General Manager of Novartis (OTC)
Israel, a wholly-owned subsidiary
of Novartis AG, specializing in the importing, marketing and sale
of OTC pharmaceuticals in Israel.
Mr. Cranko holds a BA (International Relations) from the
Hebrew University of Jerusalem and an
MSM (Masters of Science, Management) from Boston University.
New director
In addition, the Company announced that its Board of Directors
has appointed Mr. Victor Bar as a
director in the Company effective as of June
20, 2017. Mr. Bar is a C.P.A. (Isr), with many years of
experience as CFO in public and private companies in Israel. Mr. Bar holds a BA in economics and
accounting from Bar Ilan
University.
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.
Pavel Buber, CFO and Secretary
(+972)8-932-1000
pavel@willi-food.co.il
SOURCE G. Willi-Food International Ltd.