Executive drama: Next Gen accuses resigning CFO of information leaks as Melleran changes chairman

Stormy executive turnover on the exchange: Biomed company Next Gen claims its CFO was terminated over suspected conflict of interest, while non-bank credit firm Melleran sees veteran Chairman David Granot make way for the controlling shareholder.

Two separate filings reveal executive shakeups at two public companies. Next Gen Biomed is in the midst of a fierce dispute with resigning CFO Dan Hilerovich, claiming it intended to terminate him on suspicion of sharing insider information and conflict of interest. Meanwhile, at non-bank credit firm Melleran, Chairman David Granot is stepping down and controlling shareholder Moand Rayan will replace him, subject to regulatory approval.

Executive dramas at two public companies in completely different sectors reached the stock exchange in the past 24 hours, presenting two contrasting pictures of executive turnover. While biomed company Next Gen Biomed is engaged in a fierce public battle of accusations against its resigning CFO, non-bank credit company Melleran is conducting an orderly replacement of its board chairman.

Severe accusations at Next Gen

The storm at Next Gen erupted following the resignation of CFO Dan Hilerovich. In response to his resignation letter, the company published an unusually harsh filing, entirely rejecting his claims and framing them as "an attempt to create a misrepresentation." According to the company, Hilerovich's resignation was submitted "in haste," only after CEO Harel Hershtik notified him of the intent to summon him to a pre-termination hearing immediately after Yom Kippur.

The grounds for the intended termination, as detailed in the filing, are particularly severe. The company alleges a "prolonged detachment on the part of the officer, payment demands not grounded in agreement," and more critically, notes "grave concerns raised at the company regarding the officer's ties with a third party holding interests conflicting with those of company management, and the transfer of inside information to that party without the company's knowledge, while acting in a conflict of interest." The company added that it "operates with full transparency and holds lawful documentation for all its financial actions" and reserves all legal rights against Hilerovich.

Orderly transition at Melleran

In sharp contrast to the drama at Next Gen, non-bank credit company M.L.R.N. Projects announced the scheduled conclusion of Board Chairman David Granot's tenure. Granot, who has served in the role since early 2020 and led the company since its initial public offering, will complete his term on November 13, 2026, upon the expiration of his engagement agreement. The board thanked Granot for his "significant, long-standing contribution to the company."

Granot will be succeeded by controlling shareholder and active director Moand Rayan, whose appointment takes effect on November 14, 2026. The move marks a concentration of power in the hands of the controlling shareholder, though it is not automatic. Because Melleran is a regulated financial service provider, the appointment is subject to approval by the Supervisor of Financial Service Providers at the Capital Market Authority, or a lack of objection to the appointment. Rayan's assumption of the role will take effect on the scheduled date or upon receipt of regulatory approval, whichever is later.