YAVNE, Israel, November 28, 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 Mr. Tim Cranko submitted a letter of resignation as
CEO of the Company for personal reasons, effective as of
December 31, 2017.
The Company's Board of Directors thanked Mr. Cranko for his
services and wish him success in his future endeavors.
The Company expects to appoint a new CEO to replace Mr. Cranko
in the near future.
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.