Shir, the son of Roni and Karmit Elroy, Tshuva's daughter, will earn a NIS 8,500 (roughly $2,250) monthly salary, similarly to other employees in his position at the company.
"The audit committee and directorate confirmed that Mr. Elroy's salary is no higher than the average pay on the market and is reasonable in light of the extent of the deal, the nature of the position and Shir Elroy's set of skills for the position of economist at the subsidiary," the statement said.
Shir is not the first member of the family to come onboard Yitzhak Tshuva's company, but he is the first grandson to get a job at his grandfather's firm.
Shir's father, Roni Elroy, served as one of Delek's executive managers until several years ago, later establishing Kaman Holdings. Elroy's company is now at a crossroads and is holding talks with the banks on the company's future due to its inability to pay back loans it took from the banks.
Shir's mother, Karmit, is set to be appointed as chairman of Delek Israel's board after serving for a year as member of the board. Karmit holds a BA in special education and humanities from Tel Aviv University and a diploma in Chinese medicine which she presently practices.
Since 2007, Karmit Elroy has been the owner and chairman of Pharma China.
Tshuva's son Elad is the most well-known family member, especially after the grand wedding affair in which he married Roni Heiman. Elad is deputy chairman to Gabi Last, who chairs Delek Group's BOD.
Another of Tshuva's son-in-laws is Rami Naor, who raked in a NIS 20 million ($5.2 million) salary over the past decade for his position in Delek Real Estate – NIS 17.2 million ($4.5 million) from Delek Real Estate and NIS 2.5 million ($660,000) from Delek Motors, in which he served as deputy chairman.
Since 2004, Naor serves as a part-time consultant to Delek Real Estate for a monthly fee of NIS 70,000 ($18,526). At the end of 2010 he unexpectedly resigned and it was later revealed that his assistance in the selloff of the company's Canada assets awarded him another NIS 5.7 million ($1.5 million) – all of the deals were approved by the company's shareholders.
Rami's wife, Gal Naor, is renowned for her interior design of the New York Plaza Hotel. The hotel was acquired for over a half a million dollars by Elad Group – Tshuva's privately-held company. Roni Heiman began working at Gal Naor's firm recently.
Interestingly enough, Tshuva himself holds no positions in any of his companies – not even CEO or director.
Click here to read this report in Hebrew