Caesarstone Director Resigns

MENASHE, Israel – An investor whose firm played a large role in Caesarstone’s survival and growth left the company’s board of directors.

Caesarstone Sdot-Yam Ltd. announced the resigntion of Dr. Ariel Halperin from its board of directors, effective immediately. The board now consists of 9 directors, four of whom are independent.

Dr. Ariel HalperinDr. Halperin is a co-founder of Tene Investment Funds, which invested $25 million in Caesarstone in 2006 and eventually added at least $12 million in equity in seven years. Tene sold more than 90% of its holdings in Caesarstone for $170 million earlier this year as part of a secondary stock offering.

“We are deeply grateful for Ariel’s guidance and support as a member of our Board of Directors over the last six years,” said Yosef Shiran, Caesarstone CEO, in a company statement. “His management expertise and Tene’s capital support were important factors in the growth and evolution of Caesarstone as a leading global brand and business. We wish him well in his future endeavors.”

Dr. Halperin noted that, “among the investments made by Tene since its founding in 2004, none are better examples of how a successful partnership between entrepreneurs and the professional capital markets can create tremendous value for the full spectrum of stakeholders in a business. We have been very proud to be associated with Caesarstone.”

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