October 2026 Cohort — Open

Dire

with Adv. Michel Ohayon

The course that turns theory into real-world mastery — training directors to make business decisions with professionalism, responsibility, and confidence

Format

20 Zoom sessions

67 academic hours

Days & Hours

Mon & Wed

17:15–19:45

All sessions are recorded

Fee

NIS 944

VAT incl.

Why so low?
Have a question?

Who Is This For?

A Mandatory Course for All Company Stakeholders

Our "Director Track" is especially suited for:

1

Anyone looking to break into the board world — seriously

2

Sitting directors who want to do more than just get by — they want to get better at the things that matter

3

Senior executives who want a clearer picture of how the board and management connect

4

Lawyers, CPAs, finance pros, regulators, strategists, internal auditors, company secretaries — anyone in the corporate governance orbit

5

People who've already taken a directors' course but feel like key topics are still missing

What You Get

Key Benefits

01

Comprehensive, In-Depth Curriculum

The program was built specifically for the director's role, weaving together business, legal, and financial know-how with decision-making processes, corporate governance, and practical board tools.

02

"MBA for Directors" Module

The first module gives directors a broad business foundation: strategy, business model, business plan, financial statements, budgets, KPIs, benchmarking, corporate finance, valuations, risk management, and more.

03

First-Tier Faculty

The course is led by Adv. Michel Ohayon and a standout faculty of leading experts in law, finance, accounting, capital markets, risk management, strategy, and corporate governance.

04

Practical Learning, Simulations & Applied Tools

The course runs through real board topics hands-on: decision-making, approving financial statements, strategy discussions, reviewing material transactions, executive compensation, drafting minutes, and more.

05

A Professional Director's Toolkit

Throughout the course, participants pick up tools, working methods, and thinking frameworks that help them act more professionally, responsibly, and confidently as directors. By graduation, it all adds up to a complete director's toolkit.

06

Exceptional Value for Money

The course fee is dramatically lower than comparable director training programs — in some cases 60–90% less — relative to the hours, content quality, and caliber of faculty. The low price comes straight from Michel's drive to spread board excellence and the values of the Ohayon Center to anyone who wants it.

07

International-Standard Training

The program was built on proven international models for training program design, including the CBE model, blending knowledge, methodologies, and professional approaches from Israel and around the world. The partnership with Ralph Ward and Boardroom Insider — among the leading names in board governance in the United States — plugs participants into the most advanced professional standards, concepts, and tools out there.

08

Online via Zoom — & All Sessions Recorded

The course runs online at convenient hours, so managers, professionals, and busy folks can join from anywhere. Every session is recorded, so participants can catch up on missed classes, review key content, and refresh their knowledge after each session.

09

Inclusion in the Ohayon Center Directors Database

Graduates can be listed in the Ohayon Center's directors database, published on the Center's website — subject to their consent and submission of the relevant details.

10

"Hotline" Advisory Service — 6 Months

Graduates get access to the Ohayon Center's professional advisory service for 6 months after finishing the course, at no extra cost.

11

Real Preparation for the Director's Role

Participants learn how to gear up for the role, which documents to review, which questions to ask, how to get ready for board meetings, and how to understand the scope of a director's responsibility and influence.

12

Membership in the Ohayon Club

Graduates join the Ohayon Club and enjoy exclusive perks, professional updates, events, activities, and content tailored for directors and corporate stakeholders.

13

Professional Certificate of Completion

When you finish the course, you'll get a professional Certificate of Completion jointly issued by the Ohayon Board Excellence Center and Boardroom Insider — a credential designed to open doors, subject to meeting course requirements. Preview a sample certificate.

14

Personal Workbook — Your Roadmap to Directorship

A new, comprehensive workbook built especially for Director Track graduates (dozens of pages) — "My Personal Roadmap for Directorship Candidacy." It's there to help you take everything you've built over your career — knowledge, experience, achievements, and connections — and turn it into a clearer, sharper, and more compelling directorship candidacy. Preview cover page.

15

Finish with Confidence and Proven Mastery

Ahead of the final exam, there's a comprehensive review session with 100 questions that sum up the core topics from the whole track. It lets participants lock in their knowledge, spot gaps, and walk into the exam better prepared and more confident. From there, they take a concluding digital exam, with guidance all the way through to a successful finish and receipt of the certificate of completion.

Early Registration for the October Cohort

Those who register by September 16, 2026 will receive three additional benefits.

01

Additional Professional Training

Participation in one training session during the coming year, from the list of eligible trainings.

02

Preliminary Meeting with Adv. Michel Ohayon

A dedicated Zoom session before the track opens — for introductions, questions, professional guidance, and meeting the group.

03

Highlighted Profile in the Directors Database

Enhanced exposure in the directors database for a defined period, subject to the database terms.

Benefits are granted only to those who register by 16.9.2026.

"Bring a Friend" Program

Know someone the track could suit?

Participants and graduates who refer a new candidate that registers and pays for the track will be eligible to join an additional training at no cost, per the program's terms.

The early-registration benefit and the "Bring a Friend" benefit can be combined, subject to the program's terms.

Professional Faculty

Our Lecturers — We Trust Them Completely

The lecturers in the Ohayon Center's directors course were carefully selected, based on familiarity with their professional experience, the quality of their teaching, and the value they bring to participants.

The course brings together a distinguished and diverse faculty, from the business, financial, legal, and regulatory worlds. Each brings practical knowledge, field experience, and insights accumulated through work with boards, management teams, and complex decision-making processes.

The lectures combine real-world examples, practical tools, and critical thinking, aimed at giving participants broad vision alongside practical action capability. The faculty operates according to the professional standard led by Adv. Michel Ohayon and with the approval of the Professional Advisory Committee.

Adv. Raz Even-Har

Adv. Raz Even-Har

A commercial and corporate attorney with over 25 years of experience advising technology companies, entrepreneurs, investors, and boards in Israel and worldwide. Specializes in complex transactions, capital raising, corporate governance, risk management, and resolving business disputes.

Lior Agai, CPA

Lior Agai, CPA

CPA, lawyer and PhD candidate in Economics, CEO of Mashik Technologies, formerly Partner at BDO, VP Finance of the Hebrew University, retired Deputy Commissioner and Economic Advisor to the Police Commissioner and the Israel Police. Expert in tenders, finance, business plans, valuations, due diligence, government procurement, technology and AI applications in boards.

Tamar Adler

Tamar Adler

Expert in business consulting for family companies and inter-generational continuity, CEO of SMC.

Adv. Michel Ohayon

Adv. Michel Ohayon

Lead Lecturer of the Director Track and Founder of the Ohayon Board Excellence Center. Expert in corporate law, capital markets, decision-making processes and board governance.

Dr. Eli El Al, PhD, CPA, ASA

Dr. Eli El Al, PhD, CPA, ASA

Israel's leading expert in valuations and economic opinions.

Eli Goldstein, CPA

Eli Goldstein, CPA

CPA and former Senior Partner at Fahn Kanne Grant Thornton Israel. Extensive experience in accounting, auditing, taxation, and financial consulting. Serves as Chair of the Professional Council at the Institute of Certified Public Accountants in Israel, and previously served as Vice President and board member of the Institute. Expert in business advisory for public and private companies, with rich experience in business development and strategic financial management.

Adv. Amiram Gill

Adv. Amiram Gill

Capital markets expert, founded the Capital Markets Clinic at Reichman University, legal commentator at Globes.

Dr. Estri Gilaz-Ran, CPA

Dr. Estri Gilaz-Ran, CPA

Dr. & CPA, expert in company valuations, due diligence and economic analysis of transactions. Lecturer for directors on valuation methodologies — the cost approach, the market approach and the income approach — and on the role of valuation in decisions regarding acquisition, sale, investment and accounting reporting.

Prof. Hadas Gelander, PhD, CPA

Prof. Hadas Gelander, PhD, CPA

Expert in accounting, company valuation, business consulting, expert witness in legal proceedings and arbitrations.

Adv. Ram Jeanne

Adv. Ram Jeanne

Corporate litigation expert, Managing Partner of the AYR firm.

Hayim Cohen

Hayim Cohen

Senior financial advisor, expert in risk management and decision-making processes. Extensive managerial experience as Chairman, Director, CEO, and senior executive. Serves as Chairman of the Friends of Ariel University Association in Israel, Head of the Financing & Infrastructure practice at the Global Investors Club of the SRI Group, and Chair of the Advisory Committee at the Ohayon Board Excellence Center. Served as director and chairman of financial and business companies, both public and private, including: Raffek Communications & Infrastructure, Kashrei Aviation, Bazan Ashdod Refinery (Paz), Helman Aldubi Urban Renewal, and Rani Zim Shopping Centers. Served as Co-CEO and founder of Clal Finance, CEO of Clal Credit Insurance, and CEO of the Dun & Bradstreet Group. Served as Vice President at Citibank Israel and as a senior executive in the Israeli banking system. Founded and headed the Israel Association of Risk Managers (IARM). Served on the Board of Governors of the Israel–U.S. Chamber of Commerce. Extensive experience as a lecturer in directors’ courses and senior executive training, and as a mentor in risk management, financial literacy, and decision-making processes in the boardroom and in management. Serves and has served on the board of several nonprofits, including Matan – Investors in the Community and Clear Sky. Volunteers in reserve duty in the field of risk management, and serves in the readiness squad and patrol unit of the Israel Police.

Yulia Levy, CPA

Yulia Levy, CPA

CPA, entrepreneur and businesswoman, founder and owner of Finally Control Financial and co-founder and managing partner of the BDO Finance Academy. Expert in strategic financial management, company enhancement, M&A, capital raising, risk management, cash flows, budgets and valuations; director in public companies and board member of Meuhedet Health Fund.

Adv. Meytal Liberman

Adv. Meytal Liberman

Expert in trusts in Israel and abroad.

Prof. Amir Licht

Prof. Amir Licht

Professor at Reichman University, considered one of the leading experts in Israel and globally in corporate governance and the fiduciary duties of controlling shareholders and officers. Author of a landmark book in the field.

Dr. Izhak Lax, Adv.

Dr. Izhak Lax, Adv.

Chair and professional director at leading companies, expert in leading companies through Turnaround processes.

Esti Lariach, CPA

Esti Lariach, CPA

CPA and expert in connecting artificial intelligence, finance, cross-organizational processes, and decision-making in the new era.

Adv. Raanan Lerner

Adv. Raanan Lerner

Among Israel's leading lawyers in M&A, leading advisor to hi-tech companies, Partner at Meitar, Israel's leading firm.

Itamar Nevo

Itamar Nevo

Expert in developing and implementing business strategy, Partner at Deloitte.

Jos Neuhaus, CPA

Jos Neuhaus, CPA

CPA & MBA, business advisor and mentor, with over 35 years of experience as CEO, CFO and director in private and public companies in Israel and abroad. Mentors companies, entrepreneurs and investors in management, turnaround, business plans, cash flows, capital raising and IPOs on Nasdaq, AIM and AMEX; teaching associate and mentor at the Faculty of Management at Tel Aviv University.

Liana Solomon

Liana Solomon

Expert in professional positioning, personal branding and LinkedIn for senior executives, directors and entrepreneurs, with specialization in building professional visibility for the Israeli and international market.

Zvi Stepak

Zvi Stepak

A pillar of the Israeli capital market, co-founder of the Meitav Group.

Dr. Asher Idan

Dr. Asher Idan

Futurist and expert in advanced technologies, lecturer in these fields, and author of "The Idan Guide to the 21st Century".

Evgenia Kremer, CPA

Evgenia Kremer, CPA

Israel's leading expert in financial risk management, Partner at KPMG.

Adv. Ronen Rosenbloom

Adv. Ronen Rosenbloom

Former senior officer in national investigative units, expert in executive criminal offenses.

Idit Shnir, CPA

Idit Shnir, CPA

Expert in business and financial consulting, valuations, due diligence, economic opinions and complex transaction support. Head of the Financial Consulting practice at KS Finance, formerly manager at BDO Financial Consulting, with approximately 17 years of experience in civil litigation, financial consulting, M&A, IPOs and investment banking.

Dr. Rami Sasson, Adv.

Dr. Rami Sasson, Adv.

Advisor on compliance and regulation in the financial and banking system, with many years of experience in management and legal consulting roles. His areas of practice include anti-money laundering and counter-terrorist financing, privacy protection, securities law enforcement, competition law, and cross-border risk management. Served for nearly a decade as Chief Compliance Officer of the Discount Group, responsible for anti-money laundering and cross-border risks, including FATCA, CRS, and foreign residents activity, and also served as the Group’s supervisor of enforcement in securities law, privacy protection, and competition law. Previously worked for 13 years at Psagot Investment House, where he served as member of the management, Chief Legal Counsel, and Deputy CEO for Regulation and Enforcement. Earlier in his career, he also worked in the Securities Department of the Tax and Economy Prosecution and served as Senior Trading Manager at the Tel Aviv Stock Exchange. Holds a doctorate in law from Bar-Ilan University, where his research addressed the need and right to regulate virtual assets in the banking system; a master’s degree in law from Bar-Ilan University specializing in commercial law; a bachelor’s degree in law from Reichman University; and a bachelor’s degree in business administration, cum laude, from the College of Management, specializing in marketing and finance.

Bashar Kassem - بشار قاسم

Bashar Kassem - بشار قاسم

Senior experience in managing institutional bodies, financial regulation, long-term savings, and corporate governance. Previously served as Head of the Pension Funds Department at the Capital Market Division of the Ministry of Finance, and as a director and committee member in public and government bodies. Kassem is the Honorary Secretary of the Institute of Certified Public Accountants in Israel and Chair of the Nazareth and Valleys region at the Institute.

Adv. Gal Shargil-Yaari, Esq.

Adv. Gal Shargil-Yaari, Esq.

ilus

Graduate of Harvard and Columbia with distinction, leads Fintech processes at a leading US company.

Ralph Ward

Ralph Ward

usBoardroom INSIDER

The leading board expert in the United States for many years.

The lecture will be delivered in English

Honor

We are honored to announce a professional partnership with Mr. Ralph Ward, widely regarded as the leading board governance expert in the United States. His consulting and training firm — BI — has published 7 groundbreaking books on board leadership, as well as his acclaimed magazine on board governance topics. Ralph has graciously agreed to share the knowledge and insights he has developed over many years with the community of directors and executives in Israel.

Ralph and we are collaborating on the development of a unique international program for the training of board chairs — see below.

Learning experiences, insights, and recommendations from the May 2026 cohort

What Our Director Track Graduates Say

Watch our course graduates share their experience, insights, and the tools they took with them

בוגרת ממחזור מאי 2026בוגר ממחזור מאי 2026בוגרת ממחזור מאי 2026בוגר ממחזור מאי 2026בוגר ממחזור מאי 2026

Written Testimonials

Read what our graduates say about the content, faculty, and professional value they received

Dalit Ofek Bokai

Dalit Ofek Bokai

Director at a Municipal Corporation and Founder of the TEMI Initiative

"A commendable initiative by Adv. Ohayon in building a comprehensive course that enriches knowledge in a practical, applied way across a broad range of topics relevant to the director's professional functioning. A highly practical course, intelligently and thoroughly structured, with excellent lecturers, providing an effective pocket handbook that efficiently distills the foundations of the course. The connection to a group, led by Adv. Ohayon, creates a genuine network of relationships — of professional and relevant dialogue, and of ongoing enrichment so essential to the world of directors in today's era. Highly recommended for anyone who comes with a desire to deepen their knowledge and to become. Thank you for the course. The most significant insight in my eyes, one that should serve as a guiding principle for every director entering the role — Adv. Ohayon's vision regarding the meaning of boards' functioning. Directors form a strategic, guiding, and supervisory line that safeguards the reliability and integrity of corporations. The values established in board meetings permeate downward — to the CEO, to managers, and to employees. This is an essential foundation for building quality companies and employees who operate within worthy social, business, and value-based norms. Companies employ most of Israel's citizens, and so the creation of such value ultimately serves as a mirror for Israeli society as a whole."

Adv. Raz Even-Har

Adv. Raz Even-Har

Founding Partner, Naveh, Even-Har, Sachai, Orinstein Law Firm

"The course is highly professional and touches on many important aspects of board work. The content is at a high level and delivered in an engaging and clear manner, the lecturers are excellent and pleasant and answer every question. It is evident that there is a genuine aspiration to give participants practical tools and not just theories, with an emphasis on the importance of professional work in the boardroom. The course sharpened for me that being a director is a profession and that you need to come prepared. It also illustrated the importance of informed work, of protecting business judgment, and of truly understanding the business and accounting aspects in order to be a quality director. The lectures are interesting and highly relevant, and the Zoom format is convenient and allows participation from anywhere without missing sessions. The course is suited for people who want to understand the meaning of the director's role and prepare for it, as well as for new directors who want to gain confidence and professionalize."

Haim Yisraeli

Haim Yisraeli

CEO, Beit Horim Ltd.

"The course provides essential knowledge, insights, and tools across the full range of topics a board is responsible for, and brings clarity to what a director needs to know — what the relevant domains are, what questions they should ask, and how important it is to understand financial statements. Before the course, I saw the board primarily as a place where I report on what's happening in the organization and get approval for my actions as CEO. After the course, I see it as a thinking group that challenges me as CEO and helps me achieve better results. One of the most significant takeaways was the need to ask the right questions, stay true to your integrity, and not automatically follow the majority. What sets this course apart is the combination of practical board meeting exercises with analysis of real financial statements. The content level is high, the lecturers are excellent and articulate, the presentations are illuminating, and the ability to ask questions during the lecture — not just at the end — is very important. I particularly enjoy hearing Michel, with his rich experience and wonderful stories."

Arnon Tzabari

Arnon Tzabari

Director

"This is a professional, high-quality, and well-structured program that combines practical knowledge with the expansion of managerial and business horizons. The content level is comprehensive and very high, and the lecturers deliver the material in a professional, clear, and fluent manner, while creating substantive and enriching discussions and providing broad responses to participants' questions. What sets the course apart is the high caliber of the lecturers, the practical experience they bring, and their willingness to impart knowledge and tools beyond the formal curriculum. Michel's ability to simplify the message, convey it in understandable language, and integrate practical examples makes the sessions especially meaningful. The course provides significant tools not only for board members, but for any senior executive in a private or public company. The tools and insights I acquired are already helping me examine financial and managerial issues more broadly and deeply."

Ofer Yonosof

Ofer Yonosof

CEO, JB Jewelry

"There are courses that only impart knowledge, and there are courses that also impart a way of thinking. Fortunately, the directors' course led by Adv. Michel Ohayon was of the second kind. Over decades of business activity, I learned that success is measured not only in results, but also in responsibility, leadership, integrity, and the ability to make the right decisions for the organization and its stakeholders. The course reinforced my understanding that the world of boards goes far beyond the legal aspects. It deals with people and values, strategy, and public and business responsibility. I would like to express my sincere appreciation to Adv. Michel Ohayon, who led the course at an especially high professional level, alongside humanity, modesty, patience, and extraordinary generosity. His vast experience, combined with the ability to convey knowledge in a clear, practical, and inspiring way, made the learning a meaningful and enjoyable experience. I believe that learning is a process that never ends, and even after many years of doing and managing, one can always expand horizons, acquire new tools, and grow. Thank you very much to Michel, to the entire course team, to the lecturers and guests for the investment, dedication, and uncompromising quality. I warmly recommend this course to every manager, entrepreneur, business owner, or anyone who aspires to bear public and business responsibility — especially since it is delivered wonderfully via Zoom. It was an honor to be part of it."

https://www.jb-jewelers.com
Yaniv Elroi Bandet

Yaniv Elroi Bandet

Strategic & Systems Consultant for Executives, Boards, and Entrepreneurs

"If you want to understand what is truly required of a director — not just through laws and theory but through dilemmas, real cases, and practical tools from the field — this is a course I wholeheartedly recommend. The most significant thing I took from the course is the understanding that a good director is measured not only by their knowledge, but by the quality of the questions they ask, the responsibility they take, and their ability to see the full picture even when information is incomplete and decisions are complex. That, in my eyes, is boardroom excellence. I learned to pause before rushing to a solution and ask: what information is missing, what is the real risk, what alternatives exist, and who bears responsibility. Slowly — there's no need to rush. The quality and precision of the decision are what matter and what determine the outcome. Today I deeply understand that the CEO and management are the executive tool, while the board, and especially the board chair, set the direction, the strategy, and the tone. This is essential training for anyone who wants to step into a director role, start a business, or serve on a company's board. I loved building the business plan, the integration of AI, the accounting, the dilemmas, the questions, and the discussions. Every lesson with Michel was teaching at a different level — in depth and breadth — and there wasn't a single lesson I considered unnecessary. The combination of professional depth, real-world experience, and the ability to translate complex issues into decisions and practical tools made the course especially meaningful. The lecturers were first-tier, and the course succeeded in turning laws and methodologies into a structured, practical, and effective work process."

Matan Ben Asher

Matan Ben Asher

Software Developer and Director in Non-Profits

"The most significant thing I took from the course is the understanding that for a modest investment, you can turn a new, large, and complex topic into something less intimidating, and even understand it well enough to make decisions. Another tool I took to work is focusing on strategy and not just putting out fires. Before the course, the board was in my eyes a group of people representing shareholders. Today I see it as a whole that needs to act in sync and transcend the sum of its parts. The topics that particularly caught me were decision-making and the effective board model. What sets the course apart is its orderly structure and the conceptual continuity across all the sessions. The clarity and delivery of very complex material in an 'almost simple' way made the sessions meaningful. The course is suitable for people who want to learn board work in an orderly way, from A to Z. In the previous course I took, there was too much diving into corporate legal issues, when that's the company's general counsel's job to handle. Here we focused much more on formulating strategy and analyzing the company's situation. The practical value and overall value of the course were, for me, 5 out of 5."

Roi Mimon

Roi Mimon

Former Senior Manager at Bank Leumi and Member of the 100 Forum

"Being a director is a serious, responsible, and proactive profession. Adv. Michel Ohayon is an inspiration to me, and I'm sure for all course participants. The tool I took from the course is a better understanding of directors' liability. Before the course, I didn't quite understand the importance of an effective board for an organization. After the course, I understood the importance and the great responsibility of a director in general and of a quality board chair in particular. The topics that caught me were directors' liability, strategy, and the role of a quality board chair. What made the sessions meaningful was the practical tools. What sets the course apart is the practical tools and practice, and it's suitable for people who want to deeply understand board work."

Miri Bender

Amal Network

"This is a professional and high-quality course, with extensive content and knowledge and excellent lecturers. Everything is at a very high level and a great deal of investment is evident. During the course, a great deal of knowledge is imparted, alongside an emphasis on exercises that help understand the work of directors in practice. The variety of topics and lecturers, alongside a curriculum built around a wide range of fields related to board work, create a professional and in-depth learning experience."

Riham Hutba

Software Engineer, Entrepreneur, and Senior Executive

"The course is very well-organized in terms of materials, content, delivery, and knowledge accessibility. The team's dedication to operating everything is at a premier level and well beyond expectations, and the Zoom format is excellent. The lecturers are at a very high level, come prepared for every lesson, encourage questions, and give respectful and detailed responses. Michel is a special person who maintains a high standard throughout the course. The atmosphere is pleasant, serious, and respectful, the materials are presented in an orderly manner, and the explanations are detailed. The lecturers are excellent, every question gets a proper response, and the lessons are delivered precisely. I highly recommend it."

Yossi Shapira

CEO

"Thank you very much for the interesting, professional, and useful course, and for the certification I received. As the owner of a private family business, the course opened a window for me to a broader and deeper perspective on how an organization with multiple opinions, tasks, responsibilities, and challenges operates — alongside the shared desire to lead, make the right decisions, and succeed. I am taking with me important tools for understanding the role of the board, corporate governance, the liability of office holders, and decision-making processes in a changing business environment. I thank you for the professionalism, the investment, and the way you led the course, and I wish you great success in the future and in training additional generations of directors."

Alex Shaham

Consultant to Company Managers

"Being a director is a profession. The board was an important tool in my eyes even before the course, and its importance only grew during the course. The most significant thing for me was the importance of full and accurate documentation of the entire discussion and decision-making process, as well as the topic of strategic thinking and long-term forward-looking. I'm fairly well-versed in most of the topics covered in the course, since I also deal with them. However, the importance of strategic thinking rose significantly in my eyes during the course. The combination of the legal world, corporate governance, with the real business world really appealed to me. This is a practical, not theoretical, course. The entire course, not just one lecturer or another. All the lecturers have hands-on practical experience in their fields of expertise. I've participated in other courses. This course is the most practical by far. Just keep going as you are!!! The course is suitable for senior executives, directors or director candidates, and finance people."

Y. L.

Entrepreneur and Senior Executive

"The experience in the course is excellent, and for me it mainly brings order to my thinking. I come from the field, from daily work with budgets and cash flow, and the course gives me the tools to look at the data from above, the way a director truly should. What particularly caught me was the connection between the numbers in the financial statements and the business strategy and legal liability of the company. The course helps understand the deep economic process behind the numbers and how to translate a financial report into strategic decisions on the ground. This isn't a theoretical course, but highly applied learning, based on real case studies that helps understand how to make decisions, manage risks, and ask the hard questions in the boardroom. Michel Ohayon's lectures on corporate governance and the director's role are simply a school of management. He brings a rare combination of common sense, deep understanding of the laws and market changes, and a strong connection to practice and the real life of the boardroom. The course brings together a rare group of talented people from all fields, all connected to practice and the field. Taking complex worlds like law, finance, and strategy and conveying them in a clear, simple, and intuitive way is not something to be taken for granted. I leave every session with practical value for my work."

M. B.

Head of Operations at a Large Organization

"The experience in the course is excellent. The sessions are very interesting and the syllabus is well-structured. Most other courses boast prestigious names but revisit foundational topics without managing to go deep. Here there is depth, and there is a guiding thread that is very much felt. The lesson format, based on open Zoom rather than webinars, is very pleasant and encourages active learning. I knew Michel was excellent, and I was pleasantly surprised by the caliber of the other lecturers and the fact that the lectures were built on the syllabus and not the other way around. For me, this is a one-stop shop for everything a director needs to know. I'm already recommending friends to join the next course."

A. T.

Director at National Subsidiary Companies

"On this occasion, I would like to express my deep appreciation for the investment, seriousness, and depth of thought that went into designing the course curriculum and selecting the topics studied. It is evident that a great deal of thought was devoted to creating a comprehensive, diverse, and relevant curriculum that provides directors with practical tools alongside a broad understanding of their responsibilities and role. Particularly noteworthy is the impressive gallery of lecturers, who brought professional knowledge, rich experience, and practical insights from diverse fields of expertise. The quality of the presentations, the level of the lectures, and the ability to connect theoretical material with practical reality are all worthy of every praise. I was particularly impressed by the didactics, the fluency of speech, the richness of language, and the uncompromising insistence on respectful and clean language — qualities that are not self-evident and which attest to you as a lecturer and as an educator, and which contributed greatly to the learning experience."

A. N.

Former Credit Referent at a Bank

"A comprehensive, thorough, in-depth, and very challenging course for serving as an effective director. Alongside the professional knowledge, the course provides an overarching view and thought processes in the business world for making strategic decisions. The course highlighted for me the importance of the director's effectiveness and the value they should add to the organization or business — with courage, discretion, and responsibility. All the course topics were, in my eyes, complementary parts of a complete picture. The course included various fields of professional knowledge delivered by excellent lecturers, and provided thought processes in the business world, tools, and working methods of an effective and efficient director who will bring added value to the organization or business. The way Adv. Michel Ohayon delivered the course was interesting and challenging, and included real-world examples, practical exercises, case studies, and simulations for the group members, which created fruitful and in-depth dialogue at every session. The challenging approach, with a lot of practice and sharing, created fruitful dialogue and great interest among group members throughout the course."

A. A.

Marketing Manager at an International Biotech Company

"If you fail to plan, you plan to fail." In this course you learn how to plan and how to succeed. The most significant things I took from the course are Michel's guidance, the knowledge I gained across different fields, the questions that came up, and the desire to keep learning. The course sharpened for me the importance of following news and articles on board-related topics, of asking questions, and of avoiding preconceived assumptions. Before the course, I thought the board was mainly an advisory body with professional expertise in the company's field. Today I deeply understand its legal rights and obligations, its role as a system of checks and balances, and the importance of assessing risks and opportunities at every stage. The course combines a wide range of topics, including strategy, AI applications, using LinkedIn, and understanding the financial meaning of the statements. The up-to-date examples and practical models, alongside the variety of lecturers, Michel's and the team's personal attention, and the great patience for every question, made the learning interesting and meaningful. The course is suited for people who want to get to know the world of senior management, refresh their accounting and legal knowledge, and prepare for a board role."

5 / 17

Intro

Why Is This Course So Unique

For decades, Adv. Michel Ohayon has been Israel's leading and most pioneering voice in director and board excellence — training, mentoring, and continuing to mentor directors and board chairs. Now he's opening up a course to the general publicthe best course in Israel at the lowest price in Israel. For Michel, this is a personal mission he took on decades ago.

The course you're looking at is the product of decades of Michel's work in decision-making and board governance, backed by his unique background in curriculum design. It was built over many months to be precisely tailored to the director's role.

Michel coined the phrase "Being a director is a profession", and he developed and led Israel's first-ever directors course (in partnership with the Institute of CPAs) as well as the first dedicated program for training board chairs in Israel.

Michel set the precedent that external directors must meet special qualification requirements — and his call made it into the Companies Law in 2005.

You'll find that this course is truly unique — fundamentally different from any other director training program out there — to the point that even people who have already taken directors' courses will find content and perspectives that might just make them want to take this one too.

This is a course we are proud to declare —

Israel's Best Board Directors Course

26 reasons that set this course apart from every other board directors course in Israel

01

This is the only course in Israel built on internationally proven instructional models for curriculum design, including the CBE model. See below;

02

This is the only course in Israel created by the developer of the groundbreaking Effective Board Model — recognized in Israel as the leading model of its kind, and acclaimed internationally;

03

This is the only course in Israel designed for the general public and personally led by Michel, who brings decades of deep experience in these fields. Previously, Michel developed and led courses for a range of sectors (see his professional background below). He then moved on to training for organic boards, and has now built a course for the general public in Israel, under the Ohayon Center for Board Excellence;

04

This is the only course in Israel built by someone with decades of multidisciplinary experience across every knowledge domain of board governance — in Israel and abroad;

05

This is the only course in Israel built by someone with a proven track record (including extensive IDF service and civilian training units) in designing specialized, purpose-built training programs for diverse audiences with different professional backgrounds;

06

This is the only course in Israel built by a seasoned designer with a gift for explanation and a highly regarded reputation as a lecturer (see below);

07

This is the only course in Israel personally run by Michel — known for his relentless pursuit of excellence, rigorous management standards, and a proven eye for selecting Israel's finest lecturers, who will deliver roughly half the curriculum;

08

This is the only course in Israel where the professional facilitator — Michel — attends every session, and during lectures that aren't his own, adds his professional guidance;

09

This is the only course in Israel where participants get the agenda and outline for every session and lecture;

10

This is the only course in Israel where participants receive a prep brief for each lecture, with 4–5 preparatory questions per lecture;

11

This is the only course in Israel where the facilitator reviews lecturers' slides in advance — refining, critiquing, and improving them;

12

This is the only course in Israel where, thanks to tight management, lecturers never overlap, and nothing "falls through the cracks";

13

This is the only course in Israel where learning is active — participants will be expected to "do their homework" (just as they would before real board meetings);

14

This is the only course in Israel where, throughout the course, participants receive ready-to-use professional tools for the director's role, building up into a complete, well-rounded toolkit;

15

This is the only course in Israel where one module covers business administration — what we call the "MBA for Directors" module — spanning about 20 hours (see the three course modules below);

16

This is the only course in Israel where board work simulations kick in as early as the first session, right in the first lecture;

17

This is the only course in Israel that gives artificial intelligence — AI — its rightful place in the boardroom, complete with live simulations of AI tools in action;

18

This is the only course in Israel where we teach what "board thinking" is, what "board language" is, what makes a "board-level question," and what "board-level listening" means;

19

This is the only course in Israel where the right emphasis is placed on blending essential theory with hands-on practice;

20

This is the only course in Israel where the "fear approach" (somewhat overused elsewhere) around director liability is not front and center — instead, we focus on how to do the job professionally, with proper norms, and with real confidence;

21

This is the only course in Israel backed by an international endorsement from the No. 1 board coach in North America and beyond — Mr. Ralph Ward;

22

This is the only course in Israel where one of the signatories on the completion certificates is an international corporate governance expert, the world's leading board coach, and author of 7 must-have books for any director's library — Mr. Ralph Ward;

23

This is the only course in Israel where graduates get six months of free mentoring and advisory access through the Ohayon Center's "red phone" hotline;

24

This is the only course in Israel where graduates receive ongoing updates from the Ohayon Center on board governance topics;

25

This is the only course in Israel with dedicated units on how boards work in specialized entities — public companies, government-owned, pension funds, banking, high-tech and biotech, municipal, nonprofits, and more;

26

This is the only course in Israel where earning a certificate means passing a final exam of 100 director-relevant questions with a score of at least 85, plus attendance in at least 80% of sessions and/or a summary paper.

In short
this is the first and only course in Israel that uniquely and convincingly passes the ultimate cost-benefit test.

Development & Methodology

How Michel Developed This Course

Michel brings years of expertise in building specialized training programs, drawing on proven international instructional models.

Michel ran a rigorous, deep-dive occupational analysis of the director's role, zeroed in on the unique "test situations" that come with the job, and defined the competencies required to handle them well.

Mapping out those test situations and competencies led to a detailed breakdown of the knowledge domains and real-world scenarios directors have to navigate — and therefore need to study and practice.

Michel didn't stop there — he also defined the best teaching methods and illustration tools for training directors on exactly the topics and scenarios they'll face.

The Core Test Situation for Directors — as structured by Michel:

A.

Directors are required to make decisions;

B.

Directors are required to make business decisions;

C.

Directors are required to make collective business decisions;

D.

Directors are required to make collective business decisions based on information provided by others;

E.

Directors are required to make collective business decisions based on information provided by others, in dynamic and changing conditions;

F.

Directors are required to make collective business decisions based on information provided by others, in dynamic and changing conditions — while others are responsible for implementing and executing those decisions.

From there, Michel organized all the knowledge domains and scenarios into three essential learning modules — a complete, professionally designed response to the test situations and competencies identified:

Turning theory into professional mastery

Three modules — 67 academic hours

Curriculum

Three Essential Learning Modules

Module One

Business Administration for Directors

Module Two

Decision-Making Processes

Module Three – Corporate Governance, Integrations & Simulations

Module One

Business Administration for Directors

MBA for Directors

It's no secret that some directors step into the role without a solid grip on the fundamentals of business administration. That gap shows up loud and clear in board meetings. In the first module, we cover the business administration content that matters most to directors, including:

  • The 'lifecycle' of a business company — what happens at each stage of its development;
  • The 'business cycle' within which directors and boards must integrate effectively and efficiently;
  • How the board should fulfill its most important mandate — defining the company's business strategy;
  • How to define a company's 'business model' and how to participate meaningfully in setting its business plan;
  • Key management models relevant to directors and how to apply them: company analysis (SWOT), competitive analysis (Four Corners – Analyzing Competitors' Strategies), market sizing (Market Sizing), company growth models (Greiner's Growth Model), McKinsey's model for organizational health (McKinsey 7S), and more;
  • Financial dimensions of corporate activity — equity, capital and debt operations, credit facilities and types of collateral, dividend distribution;
  • Principles of Corporate Finance — debt vs. equity financing, matching them to the company's cash flow needs, and their implementation pathways;
  • Annual budgets and work plans — how to evaluate them and monitor their execution;
  • Reading and understanding financial statements and management reports — the essentials of accounting and auditing, line-by-line analysis of all four financial statements, the interrelationships between them, balance sheet and income ratios, unique accounting considerations based on the company's type, activity, and business model, key performance indicators (KPIs), benchmarking, and identifying red (and green) flags in financial reports;
  • Entrepreneurship and innovation — what they are and how to develop and encourage them: crystallizing the entrepreneurial idea, how to turn an idea into a value-creating venture, and the value of continuous innovation and building strong or new value chains;
  • Due Diligence from a board perspective — how to integrate findings and how to use the results for management purposes;
  • Risk management (and opportunity management) — types of risk in company operations, how to identify the risks the company is exposed to, treatment methods, and the distinction between risk management and opportunity management;
  • Company valuation — available methods, how to select the right approach for a specific company, what "sensitivity analyses" are and the significance of the "discount rate" in valuations.
Module Two

Decision-Making Processes — "Lifting the Hood"

In this module, we dig deep into the following:

  • What is a 'decision' — what exactly happens when we decide, and how to organize for implementation;
  • The optimal decision-making process — the generic framework, how to evaluate and weigh alternatives, how to select the optimal choice;
  • The critical milestones and alternative pathways within decision-making processes;
  • Circularity, spirality and centrifugality in decision-making processes — the models Michel developed for 'closing' decision-making processes, resolving the 'information constraint' in board work, and continuously refreshing decision-making processes;
  • The differences between individual and group decision-making processes — how to be effectively involved, and how to prevent manipulations and being led astray;
  • Active listening ('receptive listening') and the art of asking the right questions;
  • How to present positions and convey messages effectively, how to negotiate, and how to build influence;
  • Using artificial intelligence tools in the company and in board work, to optimize decision-making processes — the available tools, their characteristics, advantages and disadvantages, when to use them and when to use more than one tool — with the entire learning experience accompanied by live AI usage simulations (in partnership with the 'Institute for Artificial Intelligence', Ben-Gurion University of the Negev).
  • How to properly document board deliberations and decisions;
  • How to monitor the implementation and execution of board decisions;
  • What is leadership? How does it differ from management? Can leadership be learned? Who is the company's true leader?
Module Three

Corporate Governance, Integrations & Simulations — "On the Agenda"

This module ties the first two together through the lens of effective, proper, and sound corporate governance, with integrations and simulations of every test situation and scenario. Here we dig deep into:

  • Corporate Governance — its principles, rationale, and how it developed and took shape in Israel over the past four decades, from the "bank shares collapse," through the major reforms, to the present day — in legislation and court rulings;
  • The unique aspects of corporate governance in for-profit and non-profit entities — companies, general partnerships, limited partnerships, cooperatives, and companies of all types: private, public, government-owned, insurance, pension funds, municipal, non-profits, and public benefit companies;
  • Principles of ownership, control, and management in a company — what governs shareholder ownership, board control, and CEO/management leadership;
  • Defining and delimiting the board's authority and responsibilities vis-à-vis shareholders and vis-à-vis the CEO and management;
  • A comprehensive review of all board functions — understanding the distinctiveness and depth of each;
  • How key board committees operate and interact with the full board — the audit committee, compensation committee, financial statements committee, investment committee, and ad hoc committees;
  • Decision-making processes in situations of risk, crisis, and uncertainty — how varying circumstances involving dynamic, changing, and sometimes extreme conditions dictate different decision-making processes for the board;
  • Internal control and audit mechanisms — defining the authority, roles and responsibilities of the external auditor and the internal auditor, in comparison to the board and management;
  • Transactions and engagements requiring heightened sensitivity — with officers, interested parties, and controlling shareholders: how to structure executive compensation packages, how to evaluate such transactions, the unique approval processes, and how institutional investors operate;
  • Best practices for working with advisors and external experts — legal counsel, economists, valuators, and specialized advisors;
  • The 'Michel Model for the Effective Board (2025)' — the path to developing the model, the four conditions for an effective board, how to achieve and implement them, and the methodology for evaluating board effectiveness and maturity. The model will 'hover over' Module Three, with the aim of achieving all four necessary conditions by its conclusion;
  • The proper process for onboarding as a new director — how to prepare before taking the role, which documents are essential to review, who to meet with, and what to do in the first board meeting;
  • Legal considerations relevant to board decision-making — from the stage of convening a board meeting through to monitoring the implementation of board resolutions;
  • Managing the board's own risk exposure — through the lens of the company's risks;
  • Legal aspects and types of liability associated with the director's role — director liability, whether it is personal-individual or collective (board-level), and how to achieve optimal protection against the imposition of liability;
  • Corporate litigation — types of legal proceedings, court and arbitration proceedings, types of claims: direct, derivative, and class actions, stages of proceedings, affidavits and cross-examinations;
  • Types of directors and terms of service — from appointment to removal;
  • Unique board decision-making considerations in specialized entities — public companies, government-owned companies, banking corporations, insurance companies and pension funds, high-tech companies, biotech companies, family businesses, and more;
  • Core principles for creating multi-generational continuity — the relevant rules of the game, and how to formulate Tailor Made frameworks for sound and proper intergenerational continuity.

The Crown Jewel of Module Three — Learning and Practice

We'll study and practice about 30 topics that come up again and again on board agendas. Here's a partial list:

  • Setting the agenda for a board meeting
  • Methods for obtaining all material information on each agenda item
  • Defining the company's business strategy
  • Activity budgets and multi-year and annual work plans
  • Setting the credit framework the company is permitted to take
  • Approval of financial statements
  • Structuring the CEO's compensation package
  • The board's modes of involvement (and intervention) in material and sensitive agreements
  • Methods for reviewing and evaluating professional opinions
  • Defining a company-specific "Board Code"
  • Delineating authorities between the board and management
  • The distinction between decision-making authority and signing authority
  • Issuing securities in private placements or public offerings — shares, convertible securities and bonds
  • Issuing securities to employees and managers
  • Acquiring a company or business activity
  • Merger or spin-off
  • Partnership or joint venture
  • Dividend distribution and share buybacks
  • Setting the company's organizational structure
  • Human capital from a board perspective
  • Methods for drafting board minutes

For every topic — we'll give you solid examples of how to draft the protocol, with the key discussion points and the right decisions.

"Being a director is a profession."

Coined by Adv. Michel Ohayon (Maariv Business, December 1989)

Lead Lecturer

About the Lead Lecturer — Michel Ohayon, Adv.

Michel Ohayon

Michel Ohayon, Adv.

Professional Profile

Adv. Michel Ohayon has spent over 38 years specializing in decision-making processes, with a real focus on decision-making at the board level. He brings rare expertise in both everyday and high-stakes decisions, and years of experience advising boards and senior management teams.

Our approach blends multidisciplinary expertise with a relentless drive for excellence. We work hard to live up to our standard — Excellence in everything we do.

Our thinking, analysis, legal strategy, and tactics are all grounded in years of deep, well-rounded, hands-on experience — the kind that only comes from people who have actually been there and done it.

Client Acceptance Policy:

"We represent clients who act with integrity and professional and business ethics. We believe in thoughtful, balanced business conduct that takes into account all company stakeholders. We do not represent clients who operate by corrupt business codes, who deceive, steal, or intentionally harm their partners or investors... While they certainly have the right to legal representation, we will not represent them at any price. They will surely find other counsel."

Education & Training

Law degree, Tel Aviv University, graduated March 1987

Internship: 18 months at Goldfarb, Levy, Eran — specializing in corporate and securities law, under the guidance of Adv. Oded Eran, z"l, and Adv. Yudi Levy

Remained at the same firm for 4 years as an associate and 2 years as a partner.

Founded Michel Ohayon & Co., Advocates (1996).

Has advised, over decades, on transactions, acquisitions, structural changes, and public and private offerings for major Israeli companies and conglomerates, including the Elco-Electra Group — personally accompanying its founder, Gershon Zelkind, z"l, who was Michel's mentor in the business world.

Law Firm Practice Areas

  • Mergers and acquisitions, private and public offerings
  • Structural reorganizations of conglomerates and companies
  • Legal counsel to conglomerates
  • Multidisciplinary advisory in material transactions, crisis situations, and turnaround processes
  • Comprehensive arrangements for multi-generational continuity
  • Shareholder agreements, articles of association, and family constitutions
  • Legal representation (litigation) for companies and investors in control disputes
  • Director and officer liability
  • Legal representation in complex proceedings, including international dimensions
  • We also represent in elite litigation and matters of principle. For example, our firm is responsible for the first Israeli precedent establishing the characteristics of a 'harmful cult'.

Board Governance Expertise

Business DevelopmentMaterial TransactionsSensitive TransactionsStructural ChangesEquity Capital RestructuringCrisis ManagementDecision-Making Under Uncertainty

"Being a director is a profession."

(Moshe Gorali, Maariv Business, December 1989)

Training Programs & Courses Developed by Michel

  • Israel's first-ever director training course — 'Director Track' (1989)
  • Israel's first and only program for training board chairpersons
  • The prestigious and specialized program for senior managers at the Bank of Israel
  • The prestigious and specialized program for Banking Supervision staff
  • Director training program for certified public accountants
  • Director training program for CFOs (CFO Forum)
  • Director training program for the kibbutz industry sector
  • Director training program for the Capital Markets Division of the Ministry of Finance and Banking Supervision
  • Director training program for senior Histadrut (labor federation) officials
  • Director training program for COOs (COO Forum)
  • Training programs for organic boards of directors

Military Service

Combat medic, commander of a combat medics course, outstanding officer in the Medical Corps. Michel completed his law degree through Tel Aviv University's evening program while simultaneously serving as head of an instructional development team and deputy education officer at the Military Medical School ("Base 10"), which was — and remains — the IDF's leading training base.

The "Michel Ohayon Model for the Effective Board (2025)"

Between 2010 and 2014, Michel doubled down on his years of board research, focusing it on building a model for board effectiveness. Part One lays out what it takes to build an effective board and how to get there; Part Two sets out a detailed methodology for evaluating how effective a board really is.

In 2015, Michel was selected — through a competitive tender that included several consulting firms and two "Big 5" firms — to present his model to the Government Companies Authority. Michel and one of the Big 5 firms made it to the finals, each invited to present their model independently.

After roughly 10 months of thorough evaluation by the Government Companies Authority, Michel's model was chosen as the one to be rolled out across all Israeli government-owned companies.

The Government Companies Authority published a formal circular on the matter in August 2017, effective November 2017. The model booklet authored by Adv. Ohayon is available on the Authority's website.

After implementation and lessons learned, the model was redesigned in 2025 and is set to be distributed both in Israel and internationally — primarily across OECD and G-20 countries.

Ohayon Board Excellence Center

Michel founded the Ohayon Board Excellence Center, named in memory of his brother, Corporal Maxim Ohayon, z"l — 10.10.1973.

The Center is a professional hub that brings together under one roof a one-of-a-kind, comprehensive, and accessible knowledge base for directors and boards, along with a suite of specialized professional services built for boards and their members.

Check out our website — director.org.il. Membership in the Ohayon Board Excellence Center is free.

Our professional vision — the approach we develop, lead, and implement:

"Turning the Board into the Main Factor in Creating the Company Values"

"Direktori" — The Comprehensive Director's Reference Tool

This is the most comprehensive working tool ever built for directors in general, and for directors of government-owned companies in particular. "Direktori" is a methodological resource that lets any director quickly find all the relevant information and knowledge on roughly 52 topics that regularly show up on board agendas.

This is entirely Michel's own work — there's nothing else like it in Israel or anywhere else in the world.

Direktori was first published in July 2017. It's been distributed to every director of a government-owned company and is handed to each new director when they step into the role.

Knowledge, Experience & Excellence — in One Course

Ohayon Board Excellence Center

Books & Publications

Professional Publications — Michel Ohayon, Adv.

"Managers' Responsibility in Companies"

(Co-authored with Adv. Yudi Levy, Bursi Publishing) — This book walked practitioners through how to implement the first landmark amendment to Israel's Companies Ordinance — Amendment No. 4.

"The commentary before us is the first serious attempt to tackle Amendment No. 4 systematically — both in fine interpretive detail and in the broader sense of its 'geometric place' and significance within the body of corporate law. The authors, who rank among Israel's finest corporate law practitioners, have left no provision unturned...

The book speaks to two audiences: the legislator looking for lessons ahead of future legislation — already knocking at the door — and the practitioner: the judge, attorney, accountant, or corporate officer up against tough interpretive questions that demand answers. Both will find in this work a treasure trove of fascinating material — tested in the crucible of the authors' practice and examined in the cool light of legal theory."— Prof. Uriel Procaccia, Senior Member of the Barak Commission (headed by former Supreme Court President Prof. Aharon Barak)

"Companies, Securities, Consulting and Investment Management"

(Pyramid Publishing) — The official textbook for investment advisors and portfolio managers in banks and investment management firms, used for the Investment Advisory and Portfolio Management licensing examinations administered by the Israel Securities Authority. Together with the book, a training program was developed for investment advisors and portfolio managers to pass the Israel Securities Authority licensing examinations.

"Those active in the Israeli capital market have long felt the absence of a comprehensive foundational text... Adv. Michel Ohayon deserves real credit for taking on this challenging and fascinating task... The result is a compelling book that gives the entire capital market a uniquely valuable contribution — one with no equivalent anywhere."— Da'at LeMida'at

"The Companies Law — New Corporate Law in Israel"

(Israeli School of Corporate and Capital Market Studies) — Published after Israel's Companies Law was enacted. This book turned the Companies Law into practical, real-world application and is still considered a leading work in the field today. Michel served as the Bar Association's representative — and in some sessions, the Institute of CPAs' representative too — through five years of weekly Knesset deliberations on the Companies Law and its regulations.

"It was a real pleasure to read your book... I have to start by acknowledging your substantial work and help to the Knesset Constitution, Law and Justice Committee as the Bar Association's representative, while it labored over this important legislation... You've succeeded in bringing clarity and order to the complexity of the law's provisions."— Ret. Justice Shlomo Shoham, Legal Advisor to the Knesset Constitution, Law and Justice Committee
"Your distinctive style, the clarity of the writing, and the way you bring the material to life for the reader... rightly earn you an important place in the study, understanding, and application of this significant law."— CPA Ronen Barel, Managing Partner of EY Israel
"This book tackles, in a most serious way, a clear need that comes out of such sweeping legislation. The ability to cover the subject comprehensively and still dig deep where it matters — that's commendable. A must-read for accountants and CFOs."— CPA Avi Berger, Managing Partner of PwC Israel

Articles and professional publications: Michel has published widely, on topics like — protecting the small investor, reading financial statements for directors, director and officer liability, the IFRS revolution, capital market and corporate law reforms, responsibility for financial statements, board failures at companies like Teva, and how to handle a "toxic board" (co-authored with Dr. Keren Bar-Hava, Head of the Accounting Department at the Hebrew University) — and many more.

"Turning the Board into the Main Factor in Creating the Company Values"

Ohayon Board Excellence Center

Lectures & Appearances

Michel Ohayon — Thought Leader & Lecturer in Decision-Making and Board Governance

1. "The Michel Ohayon Model for the Effective Board (2025)"

This lecture walks through how Michel built his "Effective Board Model"adopted by Israel's Government Companies Authority after beating out 5 competing models, including international ones. The Authority rolled it out across all government-owned companies. The model lays out what it takes to run an effective board, how to gauge its maturity, and how to measure its effectiveness. The lecture covers roughly 150 distinct board failures and 50 real-world case studies — broken down into the four weak spots: information quality, the board chair, the directors, and decision-making processes. It walks through real-world examples of how to build and maintain quality information, a strong board chair, top-notch directors, and sound decision-making. It also lays out the methodologies for evaluating board effectiveness, efficiency, and maturity.

2. "Directors and Boards — Through the Tunnel of Time"

This one-of-a-kind lecture takes you through how corporate governance norms took shape in Israel over the past four decades. From unchecked corporate power to balanced governance with real checks and balances — institutional investors, activist funds, and the rise of accountability. It covers the major economic and business events, legislation, regulatory norms, and court rulings, from the 1983 banking stock crash — the Beisky Commission Report — to today. You'll see the key legal milestones in corporate law, from the Mandatory-era Companies Ordinance (1929) through 70 years of evolution to the Companies Law (passed in 1999), landmark rulings like the "Bank Tsafon America Affair", debt restructurings and write-downs, famous derivative and class action suits, and more.

3. The Company's Articles of Association

Just how central and consequential the articles of association are in shaping ownership, control, and management — and how to draft them the right way. The lecture comes with practical templates, capped off by a modular articles framework you can adapt to any company type or purpose.

Professional Conferences — Corporate Law & Capital Markets

  • Moderator and keynote speaker at the annual Directors' Conferences of the Israel Management Center (IMC)
  • Annual conferences on public offerings and capital markets, in collaboration with Ernst & Young
  • Annual conferences for corporate lawyers

Public & Professional Activity

  • Former Chair of the Corporate Law and Capital Markets Forum of the Israeli Bar Association
  • Representative of the Israeli Bar Association (and in some sessions, also of the Institute of CPAs) in five years of Knesset Constitution, Law and Justice Committee deliberations on the Companies Law and its regulations.

In 1998, Michel proposed that candidates for the role of "external director" be required to demonstrate professional qualifications. At the time, a vocal coalition opposed him — including a senior official at the Ministry of Justice and the then-Chair of the Israel Securities Authority. The proposal was rejected — but the rest is history: his proposal was adopted through Amendment No. 3 to the Companies Law in 2005, which established: "An external director shall be appointed if they have professional qualifications or accounting and financial expertise, provided that at least one external director has accounting and financial expertise." And as has already been said — "Being a director is a profession."

▪ Member of the Friends Association of the Tzohar Rabbinical Organization, and its pro bono legal advisor.

Looking Ahead

Near-Term & Future Plans of the Ohayon Center

(Partial list)

September 15, 2026

New — AI in the Boardroom

AI is already part of managerial decision-making. In this one-of-a-kind course, co-led by Dr. Asher Idan, CPA Lior Agai, and Michel, we'll 'pop the hood' on AI, dig into how the method really works, and show — live — how to put AI to work in board decision-making. We'll also break down the board's oversight responsibility for AI use across every layer of the company.

Details & Registration
Q4 2026

New — Advanced Board Directors Course

A specialized advanced program built by Michel, delivered under his direct professional leadership. The content is a real step up from the directors course, covering, among other things:

A comparative international perspective on Corporate Governance — including lessons from Germany's two-tier model, the OECD governance model, and the G-20 modelSimulations and illustrations of case studies from Israel and abroadLectures on board governance in major jurisdictions, such as U.S. states and European countries (delivered in English)How to achieve the conditions for an effective and efficient boardIn-depth analysis of all board functions under Israeli legislation (beyond just the Companies Law)
Get Updates
Q4 2026

New Edition — The Complete Glossary of Terms for Directors and Company Stakeholders

The Ohayon Center website already has a rich, wide-ranging glossary. Together with the Ohayon Center's Professional Advisory Committee (see the website), we're working on an expanded glossary with smart search capabilities, covering every term directors and company stakeholders need to know — in both Hebrew and English.

Get Updates
Q4 2026

Global Distribution of the "Michel Ohayon Model for the Effective Board (2025)"

After the model was first rolled out in 2014 and lessons were learned, it was redesigned in 2025 and is set to be distributed both in Israel and internationally — mainly across OECD and G-20 countries.

Get Updates
Q4 2026 – Q1 2027

New — International Directors Website in Multiple Languages

The corporate concept of limited liability companies and the "organ" known as the "board of directors" is global. Even Iran has limited liability companies — Mas'uliyat-e Makhdud — and boards of directors — Hayat-e Medirah. Our goal is to export our models and deep knowledge to a range of countries that speak, among others, English, French, Russian, and Arabic.

Get Updates
January 2027

New — Program for Board Chairpersons of Major Companies & Organizations

Another specialized program built by Michel — innovative on a global scale — a collaboration between the Ohayon Center and the No. 1 board governance coach in the United States, Mr. Ralph Ward, co-managed with Mr. Haim Cohen, Chair of the Ohayon Center's Professional Advisory Committee.

Get Updates
Q1 2027

New — "The Board Book"

A landmark book that — like other books Michel has published (see below) — will be the best in its field, pulling together Michel's wide-ranging, decades-deep expertise in corporate governance, decision-making, and board work. Planned for publication in English with a leading international publisher.

Get Updates
Q1 2027

New — Business Law Course for Directors

Business law is part of the fabric of managerial norms that shape board decision-making. In this one-of-a-kind course, we'll zero in on the norms that directly shape board-level thinking, including:

Contract LawCommercial TortsCompetition LawPublic Procurement LawTax Law — of the individual (including directors) and of the corporationPrivacy LawDefamation LawLabor LawInsurance LawSecurities Law
Get Updates
Q2 2027

New — MBA for Directors Course

This course expands and deepens the first module of the "Directors Track with Adv. Michel Ohayon" (see above). It dives deep and wide into the content of that first module, with hands-on demonstrations of how to apply it — including the international models you need to know and use for sound board-level thinking.

Get Updates
Q2 2027

New — In-Depth Understanding & Analysis of Financial Statements, Other Financial Reports, Valuations & Economic Opinions for Directors; The Financial Statements Review Committee

Financial statements are a company's "ID card." No wonder they're essential knowledge for directors and boards, and vital to board-level thinking. In this course, we'll dig deep into the things that matter most to directors across these four interrelated, mutually influential topics:

Financial statementsFinancial-management reportsValuationsEconomic opinions

On top of that, we'll walk through and illustrate the unique working methods of the Financial Statements Review Committee (which is no longer just a "balance committee"). As always, the teaching comes from people with deep understanding of these subjects, backed up by proven, hands-on know-how.

Get Updates

Worth noting: for every one of the training programs, courses, and professional publications above, all the knowledge domains had to be matched with the right methodology and illustration tools. The development followed the most advanced models for curriculum design (see below — "Military Service" — for Michel's background in methodology, didactics, teaching methods, and curriculum development, both during his long IDF career and in civilian institutions).

Bottom line: we'd love for you to register on our website — so you can stay in the loop on the launches of the projects above and new ones coming. Registration and membership in the Ohayon Center are completely free.

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Course Details

Director Track

Sessions

20 Sessions | 67 Academic Hours

Course Days

Monday + Wednesday

Hours

17:15–19:45

Sessions via Zoom

Open enrollment

October 5, 2026

Join now — lock in your spot in the new track.

Personal workbook
Graduate BonusPersonal Workbook

"My Personal Roadmap for Directorship Candidacy" — a comprehensive workbook (dozens of pages) to help translate your experience into a focused, compelling directorship candidacy.

Professional Certificate of Completion

Certificate jointly issued by the Ohayon Board Excellence Center and Boardroom Insider — a credential designed to open doors. Preview a sample certificate.

* 80%+ attendance + final exam score of 85%+

DownloadPocketbook for Directors

A concise working tool — boardroom language, roles, decision-making considerations and more. 9th edition (July 2026).

Download Notebook (PDF)

Participation Fee

Director Track

NIS 944

VAT included

An exceptionally low fee — in some cases 60–90% less than comparable programs.

This isn't a compromise on professional quality. It's a decision by Adv. Michel Ohayon to make a comprehensive, practical, and serious director track accessible to a wider audience of managers, directors, and professionals.

Over the years, Michel and the Ohayon Center were chosen to develop and lead professional programs even when their bid was more expensive than competing ones. In this track, a different decision was made: keep the quality, expand the value, and lower the price barrier.

What's Included

Live Zoom sessions + recordings of all sessions
Professional curriculum
First-tier faculty
Recognized certificate of completion
"MBA for Directors" module
Professional director's toolkit
Director placement — inclusion in database at no cost
"Hotline" — 6 months free advisory
Membership in the Ohayon Club
International standards
Simulations & practical learning

In doing so, Michel also honors the memory of his brother, Cpl. Maxim Ohayon, z"l (10.10.1973), in whose name the Center was founded.

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A comparative review of director training programs in Israel is available in the Public Committee report on Director Recruitment & Training in Government Companies (Feb 2025) — Click here (pp. 71–119).