Yair Seroussi was Appointed as Chairman of Mediterranean Towers

GANEI TIKVA, Israel, June 21, 2017 /PRNewswire/ --

The General Assembly the Mediterranean Towers (TASE: MDTR) chain of retirement communities announced, on June 19, 2017, the appointment of Mr. Yair Seroussi as Chairman of the Board, and also the appointment of Mr. Moti Kirschenbaum as a director in the company.

Seroussi served, in the past, as Founding Partner and Chairman of EuroPort, through which control of the chain of retirement communities was acquired, jointly with partners, in 2010.

Seroussi is currently active in the field of investment in private equity and tech vcs., he serves on the board of technology company DSPG. Seroussi also serves as Chairman of the Eli Hurvitz Institute of Strategic Management at Tel Aviv University, and a member of the board of Governors of the Hebrew University. He recently joined the advisory committee of the venture capital fund Glilot Capital.

Seroussi brings vast experience in the Israeli and international business sector. He was Chairman of Bank Hapoalim for seven and half years, head of Morgan Stanley Israel for  16 years, and senior official at the Ministry of Finance.

Yair Seroussi stated: "Mediterranean Towers is one of the leading companies in its field, and I am proud and excited to work with its outstanding management staff towards continuing to promote the company's leadership and success".

The chain "Mediterranean Towers" is the leading and most veteran company in the field of retirement communities in Israel. The company has been active for over 30 years, and owns seven retirement community properties: the home in Bat Yam, the home in Kfar Sabba, the home in Savyon, the home in Ramat HaSharon, the home in Nordia, the home in Jerusalem and the home in Ganei Tikva, in which the initial occupancy stages began in late 2016. The company also has additional residential units under construction in Ganei Tikva. In total, the company owns over 1,650 residential units. The chain maintains high occupancy rates, and is considering the continued initiation or acquisition of additional projects in the field. The company's CEO is Doron Arnon.

SOURCE Mediterranean Towers