Gazit-Globe Names New CEO

Dori Segal, the company's current executive vice chairman, held the position from 1998 and 2008.

Dori_SegalTel Aviv, Israel—Gazit-Globe has named Dori Segal, the company’s current executive vice chairman, as its new CEO effective Feb. 1, 2017, with Rachel Lavine stepping down from the role.

Segal previously held the same position from 1998 and 2008, and was president and CEO of First Capital Realty from 2000 to 2015. He also currently serves as the chairman of the board of First Capital Realty, as well as several other senior leadership positions in Gazit-Globe’s subsidiaries.

Lavine will continue to serve as vice chairman of Atrium and on Citycon board.

She first joined the company nine years ago and served six years as Atrium’s CEO. In her time with the company, she has lead a turnaround in Atrium increasing its assets value by almost $1 billion, and seeing the operating profit margin increase from approximately 70 percent to 95 percent while its dividend has increased from 3 cents a share to 27 cents a share.

“Gazit-Globe is an amazing real estate group that has many opportunities and challenges ahead. It is blessed with very professional and hands on two large shareholders and excellent management,” Lavine said in a prepared release. “I believe that the new strategy of Gazit Globe, among other things, increasing private real estate, will prove itself in the coming years.”