AFS.L Share News (AFS)

(Sharecast News) - Amiad Water Systems announced the appointment of Relly Shimko as its chief financial officer on Tuesday, with immediate effect.
The AIM-traded firm said that, like her predecessor, Shimko was not being appointed to its board, but along with the board and Dori Ivzori, would be responsible for its compliance with the AIM rules, and for providing the board with information that the company needed in order to comply with them.

She would also attend board meetings as required.

The directors said Shimko is a Certified Public Accountant with more than 20 years of experience in managing the financial operations of companies in Israel and the US.

That included three years as CFO of Gadot Chemical Tankers & Terminals, a division of the Gadot Group, where she had overall responsibility for its financial systems and reporting as well as leading a number of merger and acquisition transactions.

She also spent four years as CFO of Retalix USA - a technology provider for the retail and hospitality industries.

Shimko's other experience included working as a controller at private equity and venture capital company Apax Partners, where she managed the financial tracking of portfolio companies in Israel from investment to exit, and was involved in a number of financial transactions.

Amiad said she began her career as an auditor with a local firm, before becoming auditor supervisor at PricewaterhouseCoopers in Tel Aviv.

"We are pleased to welcome Relly Shimko as CFO of Amiad," said chairman Yariv Avisar.

"She brings great experience of working with global companies and investment communities.

"We look forward to benefiting from her expertise as we continue to progress and seek to expand our business."

At 1313 GMT, shares in Amiad Water Systems were flat at 245p.