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Cohen quits as Tnuva chair pending antitrust probe
By JPOST.COM STAFF AND GLOBES
10/02/2011
Zehavit Cohen says she wants to focus full attention on Antitrust Authority investigation into claims company concealed information.
 
Tnuva Food Industries chairperson Zehavit Cohen announced on Sunday that she is resigning her position, pending the conclusion of an investigation into the company by the Antitrust Authority.

Cohen stated that she wants to focus her attention on the investigation. She will continue in her role as manager of Apax Partners in Israel, the conglomerate that owns Tnuva.

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She will also retain her position on Tnuva's board of directors.

Shlomo Rodev will take Cohen's place as Tnuva's chairman on an interim basis. Rodev formerly served as the chairman of Bezek's board of directors.

The Antitrust Authority opened an investigation against Tnuva last week. Cohen and CEO Arik Shore were questioned for not providing information requested by the authority. Antitrust Authority investigators raided Tnuva’s offices last Sunday morning. Withholding information from the Antitrust Authority is a criminal offense.

As part of the authority’s investigation into the dairy market, it asked Tnuva and other dairy companies for information. Tnuva provided information, but the authority concluded that Tnuva was concealing information and that it had not provided everything demanded. Antitrust Authority investigators confiscated documents and questioned senior Tnuva executives under caution.
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