Shaul Kobrinsky Resigns as Migdal Investment Committee Chairman
Shaul Kobrinsky resigned as Migdal Insurance investment committee chairman following Capital Market Authority rulings against holding concurrent roles at Strauss Group.
Shaul Kobrinsky, former chairman of Discount Bank, has been forced to resign as chairman of the policyholders' investment committee at Migdal Insurance. His dramatic departure, just months after his appointment in January, follows intervention by the Capital Market Authority, which ruled that concurrent roles in other major market entities are prohibited.
According to Calcalist, the Authority's ruling stems from Kobrinsky's simultaneous position as deputy chairman of Strauss Group, which was designated in July as a "significant real corporation" after its sales exceeded 7 billion shekels. The Concentration Law and regulatory conflict-of-interest guidelines bar such cross-holding positions, as Strauss is a major supplier to retail chains in which Migdal holds shares and votes at shareholder meetings.
Kobrinsky will be replaced by Yael Kfir Mizra, a current committee member and former head of the business division at Bank Leumi. Kobrinsky's appointment at Migdal was approved last May before Strauss was added to the concentration list, but following the official summer update, Migdal's legal counsel sought guidance, and the Capital Market Authority clarified that he could not maintain both roles.
Kobrinsky is a prominent figure in Israel's financial and business sector, having chaired Discount Bank from 2018 to 2023 through a period of extensive digital and structural changes. His career includes leading companies such as Novolog, Cargal, and Yarden Industries, while he currently also serves as chairman of the urban renewal company "Beit ve-Gag".
