Days After Sexual Misconduct Allegations, Board Asks to Reappoint Israeli Retail Magnate as Director
In August, Israel’s Channel Ten aired a report that included testimonies from two women who made sexual harassment testimonies against CEO and major shareholder Harel Weisel
In a Friday filing to the Tel Aviv Stock Exchange, the board of fashion retailer Fox-Wizel Ltd. has announced its intention to ask shareholders to reappoint CEO Harel Weisel as a director at a shareholder meeting scheduled for mid-October.
For daily updates, subscribe to our newsletter by clicking here.Fox Group is Israel’s top fashion and design retail company. In addition to its own brand, Fox is the Israeli franchisee for several leading international brands including Nike, Mango, American Eagle Outfitters, Foot Locker, and Urban Outfitters. In addition to his position as CEO and board member, Weisel is also the group's controlling shareholder.
Two weeks ago, Israel’s Channel Ten aired a report that included testimonies from two women who made sexual harassment testimonies against Weisel, as well as a third woman, a Fox Group employee, who stated the company has a culture of sexism and harassment. The report caused the company's stock to drop by 5.76% at the close of trading, and it has dropped further since. A Fox spokesperson told Channel Ten that the company had never received a complaint about sexual misconduct by any member of the company’s executive team, including Weisel.
On Sunday, a Fox shareholder filed a request for a class action suit against Weisel and the company in Tel Aviv District Court, asking for several million shekels in damages in total.