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Former minister Ayelet Shaked to serve as chairman of Kardan Real Estate

Appointment subject to approval of the firm’s remuneration committee, board of directors and shareholders

Sharon Wrobel is a tech reporter for The Times of Israel.

Outgoing Interior Minister Ayelet Shaked seen in the Knesset plenum in Jerusalem on December 26, 2022. (Olivier Fitoussi/ Flash90)
Outgoing Interior Minister Ayelet Shaked seen in the Knesset plenum in Jerusalem on December 26, 2022. (Olivier Fitoussi/ Flash90)

Former minister Ayelet Shaked is joining Kardan Real Estate Enterprise and Development Ltd. and is expected to take up the post of chairman of the board of directors of the building and construction firm.

Shaked is slated to replace current chairman Yosef Grunfeld, who is stepping down from his position within the next few months, Kardan Real Estate Enterprise and Development said in a statement. In the interim, Shaked, who in the past served as interior and justice minister, will initially be appointed deputy chairman of the firm’s board.

Terms of Shaked’s employment as chairman are still subject to the official approval of the real estate firm’s remuneration committee and its board of directors, which are expected to convene in the coming days. Following the approvals, Kardan Real Estate Enterprise and Development will hold a general shareholder meeting to approve Shaked’s appointment and terms.

“I am happy to join Kardan Real Estate and continue to work to build the country,” said Shaked. “Kardan Real Estate is a veteran and professional company with great potential and I believe that together with the existing management team we will develop it and accelerate it forward.”

Kardan Real Estate and Development, founded in 1988, is owned by Kardan Israel, controlled by Roni Biram, Gil Deutsch and Avner Schnur, and managed by Amos Dabush, who serves as CEO. Listed on the Tel Aviv Stock Exchange, the firm is engaged in the initiation and development of residential projects and income-producing properties. In addition, it provides construction services for residential buildings, commercial buildings, public buildings and infrastructures.

In the residential sector, Kardan Real Estate and Development is currently involved in the planning, initiation and execution of some 14,000 housing units across a number of cities in Israel.

Shaked served as justice minister from 2015 to 2019 and as interior minister from 2021 to 2022. Before entering politics, Shaked worked as a software engineer and product marketing manager at the Israeli branch of US chip manufacturer Texas Instruments. She holds a degree in electrical engineering and computer science from Tel Aviv University.

“I believe that Shaked will help us continue the trend of growth and expansion of the company’s activities, which is part of its strategy in the coming years,” said Dabush.

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