ARKO Corp. (Nasdaq: ARKO) names Yona Fogel as independent director to board
Rhea-AI Filing Summary
ARKO Corp. reported that director Steven Heyer resigned from its board effective December 12, 2025, citing health reasons and not any disagreement with the company.
The board appointed veteran Israeli executive Yona Fogel, 71, to serve as a director until the 2026 annual meeting of stockholders and until a successor is elected and qualified or an earlier departure. He will also serve on the Nominating and Corporate Governance Committee and the Compensation Committee.
The company highlights Fogel’s decades of leadership in Israel’s banking and energy sectors, including prior roles at Paz Oil Group and Bank Leumi. The board determined that he is independent under U.S. SEC and Nasdaq rules, notes that he has no related-party relationships requiring disclosure, and states he will be compensated under the standard policy for non-employee directors.
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8-K Event Classification
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM 8-K
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 11, 2025, Mr. Steven Heyer delivered to the board of directors (the “Board”) of ARKO Corp., a Delaware corporation (the “Company”), notice of his resignation from the Board, effective December 12, 2025. Mr. Heyer’s resignation was due to health reasons and not due to any disagreement with the Company.
On December 12, 2025, the Board appointed Mr. Yona Fogel to serve as a member of the Board until the Company’s 2026 annual meeting of stockholders and until his successor is duly elected and qualified or until his earlier death, resignation or removal. Mr. Fogel will also serve as a member of the Board’s Nominating and Corporate Governance Committee and Compensation Committee.
Mr. Fogel, 71, is an experienced business leader with more than three decades as an executive in Israel’s banking, energy, and industrial sectors. Mr. Fogel currently focuses on entrepreneurial initiatives in the energy and financial sectors, leveraging his deep operational and strategic experience to build and advise innovative ventures in these fields. Mr. Fogel co-founded and, since December 2020, has served as director and Vice Chairman of Med-Red Land Bridge Ltd., a strategic infrastructure venture established in partnership with National Holding of the United Arab Emirates to develop energy and logistics connectivity between the Mediterranean and the Red Sea. From 2007 to 2020, Mr. Fogel served as Chief Executive Officer of Paz Oil Group (“Paz”), Israel’s largest integrated energy company. During his tenure, he also served as Chairman of several of its key subsidiaries, including Paz Ashdod Refinery. Prior to joining Paz, Mr. Fogel held senior leadership roles at Bank Leumi, one of Israel’s leading financial institutions. Over a period of 15 years, he served as Executive Vice President and Head of the Retail Banking Division, overseeing all domestic branch operations, mortgage banking, and digital channels. He also served as Chairman of Leumi Card, the bank’s credit card subsidiary, and was responsible for the operations of the Arab-Israeli Bank, a wholly owned subsidiary of Bank Leumi. In these roles, he led wide-ranging modernization and growth initiatives across the bank’s retail and consumer-finance businesses.
The Board has determined that Mr. Fogel is independent under the applicable rules of the U.S. Securities and Exchange Commission and Nasdaq. There are no arrangements or understandings between Mr. Fogel and any other person pursuant to which he was appointed to the Board, and there are no relationships between Mr. Fogel and the Company that would require disclosure under Item 404(a) of Regulation S-K of the Securities Exchange Act of 1934, as amended.
Mr. Fogel will be compensated in accordance with the Company’s previously reported standard compensation policy for non-employee directors.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ARKO Corp. |
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December 16, 2025 |
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/s/ Arie Kotler |
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Name: Title:
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Arie Kotler |
FAQ
What board change did ARKO Corp. (ARKO) disclose in this filing?
ARKO Corp. disclosed that director Steven Heyer resigned from its board effective December 12, 2025. The company states his resignation was due to health reasons and not because of any disagreement with the company.
Who is Yona Fogel, the new director appointed to ARKO Corp. (ARKO)?
Yona Fogel, 71, is an experienced business leader with more than three decades in Israel’s banking, energy, and industrial sectors. He co-founded and serves as director and Vice Chairman of Med-Red Land Bridge Ltd., previously served as CEO of Paz Oil Group, and held senior leadership roles at Bank Leumi, including Executive Vice President and Head of the Retail Banking Division.
How long will Yona Fogel serve on ARKO Corp.’s board?
ARKO’s board appointed Yona Fogel to serve as a director until the company’s 2026 annual meeting of stockholders and until his successor is duly elected and qualified or until his earlier death, resignation, or removal.
Which ARKO Corp. board committees will Yona Fogel join?
Yona Fogel will serve as a member of ARKO Corp.’s Nominating and Corporate Governance Committee and its Compensation Committee.
Is new director Yona Fogel considered independent at ARKO Corp. (ARKO)?
The board determined that Yona Fogel is independent under applicable rules of the U.S. Securities and Exchange Commission and Nasdaq, and that he has no relationships with the company requiring disclosure under Item 404(a) of Regulation S-K.
How will ARKO Corp. compensate Yona Fogel as a director?
ARKO Corp. states that Yona Fogel will be compensated in accordance with its previously reported standard compensation policy for non-employee directors.
