Eyal Lapidot Appointed CEO of the Shikun & Binui Group

AIRPORT CITY, Israel, May 27, 2019 /PRNewswire/ -- Shikun & Binui Ltd. (TASE: SKBN.TA) ("the Company"), a global construction and infrastructure company headquartered in Israel, announced on Sunday 26(th) of May 2019, that the General Meeting of Shikun & Binui officially approved the terms of employment and compensation of Eyal Lapidot as the Group CEO. Lapidot, who until recently served as CEO of the Phoenix Group, is expected to take up the post on June 2, 2019.

Tamir Cohen, Chairman of Shikun & Binui: "I am delighted to appoint Eyal as CEO of Shikun & Binui Group. We are confident that Eyal will make a significant contribution to Shikun & Binui and help it realize its tremendous potential."

Lapidot, 53, has an 18-year experience as CEO at several leading Israeli companies, with extensive activities in Israel and abroad. In the past decade, Lapidot served as CEO of the Phoenix Group. During these years, Lapidot led a business transformation in which Phoenix became a profitable and the leading insurance group in Israel.

Chairman of the Board of Directors, Mr. Tamir Cohen, thanked Moshe Lahmani for his seven years tenure as Chairman and CEO of Shikun & Binui: "Moshe knew how to promote Shikun & Binui to professionalism and to new markets. Moshe advanced the strategy and business development activities of the Group and was a key partner in its growth, success, financial performance and management. In the past year, Moshe has managed to navigate the team with great success in a period of complex and not always trivial changes and transitions. Moshe has left his mark on Shikun & Binui for many years to come."

About the Shikun & Binui Group

The Shikun & Binui Group is a global construction and infrastructure company that operates in Israel and internationally in seven segments: 1) infrastructure and construction contracting outside of Israel; 2) infrastructure and construction contracting within Israel; 3) real estate development within Israel; 4) real estate development outside of Israel; 5) renewable energy; and 6) concessions. The Group's activities focus on large, highly complex projects carried out for entities in private and public sectors with a focus on sustainability.

This summary announcement was prepared solely for the convenience of the reader and does not replace Shikun & Binui Ltd.'s (hereafter - "the Company") full report. The information contained in this announcement is, by its nature, incomplete. All of its contents are provided as a supplement to the Company's report, and are subject to the declarations therein stated. This announcement includes forecasts, assessments, estimates and other information relating to the Company or its subsidiaries, or to other parties or to future events and matters, the extent of whose realization is not certain and is not under the sole control of the Company (forward-looking information, as defined in the Securities Law-1968). The key facts and data serving as the basis for this information are facts and data, among others, related to the current status of the Company and its businesses, facts and data relating to the current status of the operating segments in which the Company engages in its areas of operation, and other macroeconomic facts and data known to the Company on the preparation date of this presentation.

It is understood that forward-looking information does not constitute a fact and is based solely on subjective assessments. Forward-looking information is uncertain and for the most part, is not under the Company's control. The realization or non-realization of the forward-looking information will be influenced, among others, by the risk factors that characterize the Company's operations, as well as developments in the general environment and external factors that impact the Company's operations. The Company's future results and achievements could differ significantly from those presented in this presentation. The Company is not obligated to update or modify the said forecast or assessment, and is not obligated to update this announcement. This announcement does not constitute an offer to purchase the Company's securities or an invitation to receive such offers. An investment in securities in general, and in the Company in particular, carries risk. One must take into account that past data do not necessarily indicate future performance.

IR Contacts:

Inbal Uliansky
+972 (3) 6301058

External IR
Ehud Helft
GK Investor Relations

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SOURCE Shikun & Binui Ltd.