The Amir brothers, new owners of a controlling stake in the Shufersal retail chain, attempted to appoint Professor Yitzhak Shapira as the chairman of the board of directors with a part-time salary. However, this move was met with negative reactions from economic circles before the Securities Market Supervision Authority could voice its opinion on the matter. In response, the Ministry of Health blocked the appointment and prohibited Professor Shapira from holding both positions simultaneously.
Initially, the Amir brothers wanted to retain both positions for themselves as general director and chairman of the board of directors. However, this was prevented by securities market management. They then appointed themselves as general directors while Professor Shapira was intended to serve as a ceremonial chairman of the board of directors.
This decision caused controversy and prompted intervention from the Ministry of Health to prevent dual leadership positions. The situation highlights the importance of transparency and avoiding conflicts of interest in corporate governance.