AFS.L Regulatory News (AFS)

27 Mar 2009 07:00



27 March 2009

Amiad Filtration Systems Ltd.

("Amiad" or "the Company")

Directorate Change

Amiad, a producer and global supplier of automatic water filters and filtration systems for the industrial, municipal and irrigation markets, announces that Mr Gil Nussbaum has given notice of his resignation from his position as Chief Financial Officer (CFO) and as a member of the Board of Directors of the Company.

Amiad has accepted Mr. Nussbaum's resignation with immediate effect and promoted Ms Tamar Sela, the Company's financial controller and Mr Nussbaum's deputy, to the position of interim CFO whilst the Company searches for a permanent replacement. 

Ms Sela joined Amiad as Financial Controller in 2007 from Galtronics Ltd., a developer and manufacturer of mobile phone antennae, where she had served as Group Controller since 2000. Tamar Sela has an M.A. Degree in Legal Studies, is a Certified Public Accountant in Israel and has a B.A. Degree in Accounting Business Administration.

Arik Dayan, Chief Executive Officer of Amiad, said: "I am pleased that Tamar Sela has accepted the position of interim CFO. I have worked very closely with her during her time at Amiad and know her to be extremely capable of stepping into the position. She has always worked very closely with the Company CFO and understands the role and the business very well." 

As a result of Mr Nussbaum's resignation, Resolution 10, regarding the approval of his employment agreement, will be withdrawn from the business to be considered at the Extraordinary General Meeting of the Company to be held on 1 April 2009. 

As stated in its announcement of 25 March 2009, the Company will be announcing its full year results on 2 April 2009 and expects to report that revenues for the full year 2008 have increased by at least 26% over the previous year.

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