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G. Willi-Food Announces Resignation of Gil Hochboim as CEO


G. Willi-Food International Ltd. (NASDAQ: WILC) today announced that its Board of Directors approved the terms of termination of the management service agreements between the Company and companies controlled by Mr. Zwi Williger, who currently serves as Company's Co-Chairman of the Board of Directors, and Mr. Joseph Williger, who currently serves as a director and the Company's President.

The management service agreements terminate after a notice period of 180 days following yesterday's execution of a termination agreement.  During this notice period but in any event until at least January 15, 2016, Messrs. Zwi and Joseph Williger are to continue to manage the core business of the Company while serving as Co-Presidents of the Company. The termination agreement is subject to the approval of certain of its terms by the Company shareholders, at which time Messrs. Zwi and Joseph Williger are to resign as directors and from all other positions with the Company.  The termination agreement provides for certain payments, including a performance bonus of NIS 2 million and

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