28 Oct 2015 07:00
Bagir Group Ltd.
("Bagir" or the "Company")
Appointment of new CEO
and
Directorate changes
Bagir (AIM: BAGR), a designer, creator and provider of innovative formalwear tailoring, is pleased to announce that Eran Itzhak has been appointed as Chief Executive Officer of the Company with effect from 1 November 2015.
Eran joined Bagir in 2011 and most recently held the role of Vice President of Business Development & Innovation. Eran has been integral to the establishment and the ongoing management of the Company's Ethiopian and Vietnamese manufacturing operations as well as the implementation of the Company's wider recovery plan and future strategy. In addition, Eran has been involved with identifying new business opportunities for the Company in Australia. Prior to joining Bagir, Eran practiced as a lawyer in Tel Aviv and he received his Master of Laws from The Hebrew University of Jerusalem in 2014.
Mr Itzhak will not be appointed to the board of the Company until receipt of confirmatory due diligence. Further announcements will be made at the appropriate time.
Furthermore, Udi Cohen, the Company's Chief Financial Officer has been appointed as Deputy Chief Executive Officer with immediate effect in addition to his service to the Company as Chief Financial Officer.
The Company also announces that Danny Taragan will step down as Chief Executive Officer of the Company with effect from 1 November 2015 in order to pursue other business interests.
Tessa Laws, Non-Executive Chairman, said: "Eran has been extremely important to the Company since he joined and we are delighted that he will now be taking up the post of CEO. Eran's work with the Company and time spent in the business makes this an excellent appointment. The Board wishes to express its gratitude to Danny for his service to the Company over the past few years and wishes him well with his future endeavours."
For further information, please contact:
Bagir Group Ltd. Tessa Laws, Non-Executive Chairman Udi Cohen, Chief Financial Officer
| +972-8-687-3917 |
N+1 Singer Nic Hellyer Alex Price Alex Wright
| +44 (0)20 7496 3000 |
In accordance with Schedule 2(g) of the AIM Rules, Eran Itzhak (aged 37) holds or has held in the past 5 years the following directorships and partnerships:
Current | Former |
None | None |
Eran Itzhak continues to be interested in 54,850 options over ordinary shares of NIS 0.04 each in the capital of the Company as set out in the Company's Admission Document dated 10 April 2014.
Save for the disclosures above, there are no further disclosures to be made in accordance with Rule 17 and Schedule 2(g) of the AIM Rules.