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G. WILLI-FOOD ENHANCES CORPORATE MANAGEMENT TEAM TO
SUPPORT CONTINUED GROWTH AND INTERNATIONAL EXPANSION
GIL HOCHBOIM RETURNS AS VICE PRESIDENT
YARON LEVY TO JOIN AS NEW CFO
YAVNE, ISRAEL - JUNE 28, 2007 - G. WILLI-FOOD INTERNATIONAL LTD. (NASDAQ: WILC)
(the "COMPANY" or "WILLI FOOD"), one of Israel's largest food importers and a
single-source supplier of one of the world's most extensive range of quality
kosher food products, today announced that it has enhanced its corporate
management team in order to support the Company's increasing global reach and
further anticipated growth.
Zwi Williger commented: "We are taking appropriate measures to ensure that our
corporate infrastructure is sufficient to support our rapid growth and
international expansion. In the first quarter alone, we acquired a U.S.
distributor and established a joint venture with the Baron family. We intend to
pursue additional acquisitions, as well as increase our penetration into the
U.S. market, which will add new elements of complexity to the business and
require additional management expertise."
Gil Hochboim returns to the Company as Vice President, with responsibility for
mergers and acquisitions and general operations. Gil served as Chief Financial
Officer of the Company between August 2000 and October 2006. Between March 1998
and August 2000, he served as deputy manager of Ha'menia Goods Transport Corp.
Ltd. and between April 1995 and February 1998, Gil served as Deputy Comptroller
of Dan Hotels Corp. Ltd. Mr. Hochboim is a certified public accountant (Israel).
He received his BA in Accounting and Business Management from the College of
Management, Tel-Aviv, Israel.
Yaron Levy will join the Company as Chief Financial Officer, effective August 1,
2007, replacing Chen Shlein. Mr. Levy will also provide the Company's principal
shareholder, Willi Food Investments Ltd. with certain financial services.
Between April 1999 and July 2007, Mr. Levy served as a Senior Manager at Ernst &
Young, Israel, where he participated in the Initial Public Offerings of various
companies traded on the Tel Aviv Stock Exchange and gained experience in the
analysis of internal controls in accordance with Sarbanes-Oxley. Yaron is a
certified public accountant (Israel). He received his BA in Accounting and
Business Management from the College of Management, Tel-Aviv, Israel.
Shiri Livni, who has been with the Company since November 2005, was appointed
Controller. Between July 2003 and October 2005, Mrs. Livni served as a senior
accountant in the audit department of Ernst & Young Israel. Between January 2000
and May 2003, she served as a member of an audit team at KPMG Israel. Shiri is a
certified public accountant (Israel). She received her BA in Accounting and
Economy from Tel Aviv University, Tel Aviv, Israel.
Chen Shlein will leave his position as Chief Financial Officer, effective June
30, 2007. Gil Hochboim will serve as interim Chief Financial Officer until Yaron
Levy joins the Company in August.
ABOUT G. WILLI-FOOD INTERNATIONAL, LTD.
G. Willi-Food International Ltd. is one of Israel's largest food importers and a
single-source supplier of one of the world's most extensive ranges of quality
kosher food products. It currently imports, markets and distributes more than
400 food products manufactured by some 100 top-tier suppliers throughout the
world to more than 1,000 customers. The Company excels in identifying changing
tastes in its markets and sourcing high-quality kosher products to address them.
For more information, please visit the Company's website at
www.willi-food.co.il.
EXCEPT FOR HISTORICAL INFORMATION CONTAINED HEREIN, THE MATTERS SET FORTH IN
THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS THAT ARE DEPENDENT ON CERTAIN
RISKS AND UNCERTAINTIES, INCLUDING SUCH FACTORS, AMONG OTHERS, AS MARKET
ACCEPTANCE, MARKET DEMAND, PRICING, COMPETITION, CHANGING ECONOMIC CONDITIONS
AND OTHER RISK FACTORS DETAILED IN THE COMPANY'S SEC FILINGS.
COMPANY CONTACT:
G. Willi Food International Ltd.
Gil Hochboim, Vice President
(+972) 8-932-1000
gil@willi-food.co.il
IR CONTACT:
The Global Consulting Group
Christopher Chu
(646) 284-9426
cchu@hfgcg.com