Subscribe to Print Edition | Sun., December 03, 2006 Kislev 12, 5767 | | Israel Time: 09:51 (EST+6)
Haaretz israel news English
  Back to Homepage
Print Edition
Diplomacy
Defense Opinion National Arts & Leisure Anglo File Sports Travel  
Magazine Week's End
Q&A
Business Underground Jewish World Real Estate Advertising  
Article search
Enter word or string
Quote search
Enter symbol
or name
name symbol
Quotes & Tools
TA - 100
Nasdaq
Shekel - Dollar
Currency rates
Representative rates Dec. 1
IL Market4.849
Dollar4.234
Euro5.606
GB Sterling8.33
Yen (100)3.644
Jor. Dinar5.977
Indices
Last update 09:50-03/12
Dollar 4.23 -0.22%
Euro 5.63 0.6%
TA 100 932.49 -0.39%
Maof 925.21 -0.47%
Tel-Tech 377 -0.21%
Nasdaq 2413.2 -0.76%
Dow 12194 -0.23%
In-depth
About Haaretz
Tech Support
Paper in PDF format
Headline Newbox
Bookmark to del.icio.us
Kibbutz leader calls for ouster of 'deceitful' Tnuva chairman
30.11.06 | 14:29   By Amiram Cohen

A Kibbutz Movement leader yesterday called on Tnuva CEO Arik Raichman to step down over the handling of the dairy's recent sale to Apax Partners.


In a sharply worded letter sent to the kibbutz movement secretariat, agriculture department head Gidi Sivan wrote that Raichman had planned and managed the sale in utmost secrecy while misleading shareholders.


Sivan claimed Raichman presented a picture to shareholders that losing control of Tnuva would be disastrous to them. At the same time, Sivan charges, Raichman himself was planning and moving the sale process forward - the same sale which he had warned shareholders about.


In a letter obtained by TheMarker, Sivan attacks Kibbutz Movement heads for not taking a firm stand against the process.


"There's no explanation for the utter silence among some leaders of the kibbutz economy in the wake of Raichman's actions," he wrote.


He accused the leaders at the same time of "taking every measure to prevent owners, representatives and dairy operators from putting together an alternative offer to acquire control of Tnuva."


Sivan is demanding that Kibbutz Movement institutions, which selected Raichman to serve as CEO, fire him immediately and appoint an acting CEO, who would award those shareholders interested in a competing offer the right of first refusal on any bid for control of Tnuva.


The official kibbutz journal reports that other senior movement leaders expressed strong opposition to the sale. The Kibbutz Movement currently holds 52 percent of Tnuva shares. Another department director, Razi Yahel, criticized the way in which the sale was handled, while director of regional kibbutz enterprises, Giora Masad, said the agreement was bad for milk producers.


Conditions agreed upon with the buyer are problematic, according to Masad, and will harm dairy producer rights in the long haul.


Leading kibbutz economist Dov Avital, in contrast, called on kibbutz members to accept the deal which, he claims, is the best compromise between the interests of shareholders seeking to cash in their shares and those who want to continue making a living from the selling milk to Tnuva.


The head of the movement's economic division, Doron Satt, said he would work on a dialogue between the sides ahead of the Tnuva shareholders' meeting so the meeting will end in an agreement over Tnuva's fate.


 

Bookmark to del.icio.us
Special Offers
Advertisement
Forex Center Investments
Looking for investment ? Private Service & High annual yields with low risk ,Contact us
Judaica & Jewish gifts
High quality Hanukkah & Jewish gifts from Israel
Kids' Chanukah gifts
Stories from Israel. Bilingual Heb+Eng books for ages 3-8.
Live in Israel, Study in English
Raphael Recanati International School at IDC Herzliya
Israel's Emek Medical Center
Join our festival of life
JOIN FREE AT JDATE.COM
The most popular online Jewish dating community in the world! Explore the possibilities! Click Here!
Beauty and Skin Care Products
Shop high-class skin care cosmetics with Dead Sea minerals. Coupon code "haaretz" for 10% off.
SARIT HADAD USA TOUR
Dont miss the show of the icon of Israeli music in December!
TZOFIM CHETZ V'KESHET
The summer of your dreams : enjoy Israeli style experience !!!
DESIGNER FEMALE KIPPOT
show your spirit with style HE will love it!
Menorahs by Judaica Mall
Great selection of Hanukkah gifts !!!
Eldan
The largest car rental company in Israel offers 20% discount
Ulpan-Or
Improve your Hebrew instantly Sign up for a free demo lesson
News  | Business  | Editorial  | Editorial & Op-Ed  | Features  | Sports  | Arts & Leisure  | Books  | Letters  | Food & Wine
Travel  | Real Estate  | Cartoon  | Friday Magazine  | Week's End  | Anglo File  | Print Edition  | In-depth  | Archive  | About Haaretz  | Tech Support
© Copyright  Haaretz. All rights reserved