15 May 2008 13:34
15 May 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 Abraham (Avi) Heifetz, Non-Executive Chairman, is to step down from his position with immediate effect.
Mr Heifetz, aged 70, who has been Non-Executive Chairman of the Company since February 2005, will be succeeded by Tal Yeshua, aged 50, who has been a Non-Executive Director since February 2008. Mr Heifetz will continue to serve as a Non-Executive Director until 31 August 2008.
Mr Yeshua is currently the Chairman of Kibbutz Amiad, Chairman of Termokir Industries (1980) Ltd. and Liam-Tnuvot Ltd. and is also a member of the appointed committee of Kibbutz Horshim in Israel.
Mr Yeshua said: "On behalf of the Board, I would like to express everyone's gratitude to Avi for the tremendous work he has done and for what Amiad has achieved under his chairmanship. I am pleased to be taking over from him as the Company enters a new phase in its development when global investment in water filtration and treatment systems continues to grow. I look forward to working with our team to deliver shareholder value."
Mr Avi Heifetz said: "It has been a great pleasure for me to be part of a dynamic team here at Amiad over the past three years during which time we prepared the Company for its successful admission to AIM and then took it through the challenging period of 2006. I believe that now is the right time to handover to Tal as Chairman given our achievements in 2007 and the strong foundations we have laid for the future."
Enquiries:
| Amiad Filtration Systems Ltd. | |
| Rami Treger, Chief Executive Officer Itamar Eder, Chief Financial Officer | +972 4 690 9500 |
| Corfin Communications |
|
| Harry Chathli, Neil Thapar, Clare Perks | + 44 20 7977 0020 |