Sela Real Estate, which operates as the Reit Foundation, which owns and manages income-producing real estate, reports today that it has convened and discussed reports and recommendations provided by Entropy Consulting Services and the international rating company ISS, with the aim of improving and implementing high corporate governance processes.
As part of the decisions made at the board meeting, the company implements the Entropy recommendations
On issues such as: strengthening a transparent process for appointing external directors, strengthening and diversifying the board mix, institutionalizing communication processes with the capital market and strengthening transparency, institutionalizing the board’s work processes and committees, defining and institutionalizing the responsibilities of officers and the information flow process in the organization and more.
In addition, the Company decided to adopt and implement Entropy’s other recommendations on issues such as: examining the duration of the Company’s gatekeepers’ tenure, anchoring formal investment policy, improving board independence, strengthening risk management processes and formally anchoring information flow processes in the company.
Shmuel Selvin, Chairman of the Board of Sela Real Estate: “We thank Entropy and ISS for the survey they conducted at Rock Real Estate. At the end of the board meeting, it was decided to adopt the recommendations made in order to maintain the integrity of the corporate governance in the company. I instructed the company’s management to prepare a detailed plan for working with the capital market and the institutional bodies, and for this purpose, we hired the services of Gottlieb Investor Relations, which will constitute the mechanism for strengthening the relationship between the company and the institutional bodies. “