AFS.L Regulatory News (AFS)

29 Sep 2008 07:00



29 September 2008

Amiad Filtration Systems Ltd.

("Amiad" or "the Company")

Directorate Change

Amiad, a producer and global supplier of automated water filters and filtration systems for the industrial & municipal and the irrigation markets, announces that Itamar Dov Eder, Chief Financial Officer, informed the board of directors of the Company on 28 September 2008 of his intention to step down from his position.

Mr Eder, who has served in the position of Chief Financial Officer since 2004 and as a member of the Company's board of directors since 2005, will step down by the end of 2008 to allow time for the appointment of his replacement and a smooth and orderly handover. Mr Eder is leaving Amiad to take up the position of Chief Financial Officer of a large international organisation and is expected to relocate outside Israel. 

The Company is now in the process of approaching headhunters to search for a new Chief Financial Officer with the intention of making an appointment before the end of the year.

Mr Rami Treger, Chief Executive Officer of the Company, said: "I would like to express our deep gratitude to Itamar for the tremendous work he has done for Amiad in the past 4 years and, in particular, for his active support in the growth of the Company. Itamar leaves the Company's financial affairs in a strong and stable condition and with the ability to support its continued growth, as reflected in our results for H1 2008. We wish him well for the future."

Mr Eder said: "It has been a great pleasure for me to be part of the team here at Amiad over the past 4 years, during which time we completed the Company's successful admission to AIM and then took it through its continued growth. Amiad is well-positioned to take advantage of the increase in investment in water infrastructure. It will not be easy for me to leave Amiad, but I believe that now is the right time for me to accept a new challenge."

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