BSD.L Regulatory News (BSD)

11 Dec 2006 07:02

Emblaze Ltd11 December 2006 Emblaze Ltd Directorate and Management Changes 11 December 2006: The Board of Emblaze Ltd. (LSE:BLZ.L) (Emblaze or the"Group"), announces that Eli Reifman, is to move from the post of ChiefExecutive Officer to become Group Vice-Chairman, Guy Bernstein, the currentFinance Director is promoted to become Chief Executive Officer. Additionally, Mrs. Hadas Gazit Kaiser, currently the Group VP of Finance ispromoted to the Board of Emblaze as the Chief Financial Officer and FinanceDirector. Guy Bernstein was appointed Chief Financial Officer of Emblaze in April 2004.Prior to joining Emblaze, Mr. Bernstein served as chief financial and operationsofficer of Magic Software Enterprises (NASDAQ: MGIC) ("Magic"), a position hehad held since 1999. At Magic, Mr. Bernstein's responsibilities included theoverseeing of all finance, operations, legal and M&A activities worldwideincluding budget planning, sales forecasting, board and SEC reporting andinvestor relations. Mr. Bernstein joined Magic from Ernst & Young Global (Kost,Forer Gabbay & Kasierer) where he acted as senior manager from 1994 to 1997. Mr.Bernstein is a Certified Licensed Public Accountant and holds a BA in Economicsand Accounting. Naftali Shani, Co-Founder and Chairman of Emblaze said: "The Board would like towelcome Guy into his new position as the Group CEO. His appointment reflects thenew needs of the company for the next decade of growth. With the recentacquisition of Formula Systems Ltd., our group has literally doubled in activityand requires management power with stronger operational focus. "Emblaze has changed dramatically over the past few years. It has recovered fromthe telecom downturn of 2001 and is now on a strong path to growth andprofitability. Guy has been a major part of the Emblaze turnaround and westrongly believe he is best suited to cope with the new challenges of largegroup operations, efficiencies, growth and future development. His several yearsof experience within Formula make him the perfect candidate for the managementof the Group and we welcome him for the road ahead. "Mrs. Gazit has been one of our key assets in running the Group finances and oneof our best executives collaborating with the various Group divisions and theirBoards. She possesses commendable financial professionalism, honesty andrelentless dedication. She has vast financial experience working in her past forE&Y and a NASDAQ traded telecom software vendor and the Board feels she willcontinue to provide the transparency and personal communication required by ourshareholders." Eli Reifman, Co-Founder and current CEO of Emblaze Group commented: "Guy and Ihave been working side by side over the past two years and share theresponsibility for the Group's achievements so far. It is time for change. Thesignificant improvement in our results and move to profitability alongside withthe acquisition of Formula put more emphasis on the operational side of thebusiness and require a different management style. Guy is undoubtedly the bestman for the driver seat for the road ahead. I hope for many more years of ourmutual ride together." Hadas Gazit Kaiser has been the VP Finance of Emblaze Group and CFO of EmblazeMobile since 2005. In her role she oversaw all finance and budget planning,responsible for board LSE and AIM reporting and was actively involved in Group'sM&A activities and fund raising. Prior to Emblaze, Mrs. Gazit was for threeyears with TTI Team Telecom International (NASDAQ:TTIL) where she came afteracting as a manager at Ernst & Young Global (Kost, Forer Gabbay & Kasierer).Mrs. Gazit is a Certified Licensed Public Accountant and holds an MBA in Financeand a BA in Economics and Accounting. Enquiries: EmblazeEli Reifman +972 9 7699302 Corfin CommunicationsHarry Chathli, Neil Thapar 020 7929 8989 Emblaze Group is traded on the London Stock Exchange (LSE: BLZ) since 1996 andhas offices in the United States, Canada, United Kingdom, China, Korea andIsrael. www.Emblaze.com This information is provided by RNS The company news service from the London Stock Exchange