17 Dec 2014 07:00
17 December 2014
Amiad Water Systems Ltd.
("Amiad" or the "Company")
Appointment of Chief Financial Officer
New CFO brings significant public company and water infrastructure industry experience
Further to the announcement of 28 October 2014, Amiad (AIM: AFS), a leading global producer of water treatment and filtration solutions, is pleased to announce the appointment of Ms. Irit Ben-Dov, aged 44, as Chief Financial Officer and V.P. Finance of the Company with effect from 1 February 2015. At present, Ms. Ben-Dov will not be appointed to the Board of Amiad.
Ms. Ben-Dov, a Certified Public Accountant, has approximately 20 years' financial management experience with public companies as well as private businesses. She joins Amiad from Baccara Geva A.C.S. Ltd., an Israeli manufacturer of pneumatics, automation and control solutions, where she was V.P. of Business and Finance.
Since 2010, Ms. Ben-Dov has been an External Director of Polyram Ltd, a TASE-listed manufacturer of components for the automotive, electrical, irrigation and construction industries, where she is Chairman of the Balance Sheet Committee. She has also been an External Director of Caesarstone Sdot-Yam Ltd., a NASDAQ-listed manufacturer of engineered quartz stone surfaces, since 2012 and currently holds the position of Chairman of the Audit Committee.
Prior to Baccara, Ms. Ben-Dov was CFO at Plassim, a manufacturer of multi-purpose plastic piping systems and solutions for domestic sanitation and waste discharge. Plassim is a wholly-owned subsidiary of Gaon Agro Industries Ltd., a holding company that was listed on TASE.
From 2003-2007, Ms. Ben-Dov was CFO of Maytronics Ltd., a TASE-listed water treatment systems manufacturer and distributor, headquartered in Israel with operations in the US and France. At Maytronics, she was responsible for all financial management and regulatory obligations with regards to TASE. She also played a central role in leading strategic business processes, including the listing on TASE, the foundation of the subsidiary in the US and the establishment of its finance system, and the acquisition of a company in France.
Prior to this, Ms. Ben-Dov was an accountant at Ernst & Young. She began her career in 1996 as Cost Accountant at Kibbutz Yizrael.
Eli Opper, Chairman of Amiad, said: "We are delighted to welcome Irit Ben-Dov to Amiad. She brings significant public company and water infrastructure industry experience, and we look forward to benefiting from her expertise as we continue to progress. The Board would also like to express our thanks to Amir Harel, our outgoing CFO, for his contribution to the Company since joining Amiad in 2011 and wish him well in his future endeavours."
Arik Dayan, Chief Executive Officer of Amiad, added: "I am extremely grateful to Amir for his tremendous work over the last three years. In particular, he has worked tirelessly to implement SAP and to integrate the financial systems of our various subsidiaries as well as being instrumental in the integration of the Arkal acquisition and helping me navigate through a transitional period. Thanks to his efforts, the foundations of Amiad have never been stronger. As we move to the next stage in our development, I look forward to working alongside Irit Ben-Dov, and leveraging her expertise, to maintain this momentum and to continue to grow our business."
Other than set out below, there are no other matters required to be disclosed pursuant to paragraph (g) of schedule 2 of the AIM Rules.
Regulatory disclosures:
Ms. Irit Ben-Dov | |
Current Directorships | Directorships within the last five years |
Polyram Ltd. | Miluot Development Company of Haifa Gulf Farmsteads Ltd. |
Caesarstone Sdot-Yam Ltd. | Yizrael Tamuz Ltd. |
Enquiries
Amiad Water Systems Ltd. |
|
Arik Dayan, Chief Executive Officer | +972 4 690 9500 |
| |
Oriel Securities Ltd |
|
Juliet Thompson, Giles Balleny | +44 20 7710 7600 |
| |
Luther Pendragon |
|
Harry Chathli, Claire Norbury, Oliver Hibberd | +44 20 7618 9100 |
About Amiad
Amiad Water Systems (AIM: AFS) is a leading global producer of automatic, self-cleaning water treatment and filtration products and systems. Through its engineering skills and ability to innovate, Amiad provides cost-effective "green" solutions for the industrial, municipal, irrigation, oil & gas and ballast water markets. In these segments its patented products are being integrated into the core of systems for filtration and water treatment, micro irrigation and membrane protection, wastewater and potable water treatment, cooling systems and sea water filtration.
Headquartered in Israel, Amiad provides these solutions through nine subsidiaries and a comprehensive network of over 170 distributors to customers in more than 80 countries.
For additional information or product details, please visit www.amiad.com.