Gilat's Chairman of the Board, Dov Baharav, Will Assume the Position of Interim CEO, as Erez Antebi Decides to Step Down
March 24 2015 - 12:14AM
Gilat Satellite Networks (Nasdaq:GILT) announced today that Erez
Antebi, has decided to step down from the position of CEO of Gilat
Satellite Networks. Dov Baharav, Gilat's Chairman of the Board will
assume the position of interim CEO until a new CEO is appointed.
The transition between Mr. Baharav and Mr. Antebi will take place
during the second quarter of 2015. Mr. Baharav will remain Gilat's
Chairman of the Board.
On behalf of Gilat's Board of Directors, Dov Baharav stated, "We
recognize Erez's great contribution to Gilat over the many years in
his various positions. His achievements include developing and
leading a series of successful initiatives to enter new markets, as
well as new product development, streamlining operations and
improving cost savings. These and others have helped establish a
solid foundation for Gilat's future," Mr. Erez Antebi said. "After
many years in the company and 3 years as CEO, I'm happy to see its
success and strong momentum going forward. I am proud of having led
the company back to a profitable path and turning Gilat into a true
global leader in its space. Though I have decided to look for my
next opportunities, I will always remain committed to Gilat's
success."
Dov Baharav added, "Over the past year as Gilat's Chairman, I
have come to know and appreciate the great assets of this company.
We have leading edge technologies, a strong position and reputation
in the market and most importantly a great team of people with a
strong leadership. Our priority now is to raise the bar, and
accelerate Gilat's innovation and growth going forward.
I strongly believe in Gilat's potential and I am fully committed
to seize growth opportunities and propel Gilat to new heights."
Mr. Baharav joined Gilat's Board of Directors and was appointed
Chairman in May 2014. Mr. Baharav previously served as Chairman of
Israel Aerospace Industries and as President and Chief Executive
Officer of Amdocs for 8 years. Mr. Baharav transitioned Amdocs back
to a state of growth with annual revenues of over $3 billion, more
than doubling over a span of a few years following his
appointment.
About Gilat
Gilat Satellite Networks Ltd (Nasdaq:GILT) (TASE:GILT) is a
leading provider of products and services for satellite-based
broadband communications. Gilat develops and markets a wide range
of high-performance satellite ground segment equipment and VSATs,
with an increasing focus on the consumer and Ka-band market. In
addition, Gilat enables mobile SOTM (Satellite-on-the-Move)
solutions providing low-profile antennas, next generation
solid-state power amplifiers and modems. Gilat also provides
managed network and satellite-based services for rural telephony
and Internet access via its subsidiaries in Peru and Colombia.
With over 25 years of experience, and over a million products
shipped to more than 90 countries, Gilat has provided enterprises,
service providers and operators with efficient and reliable
satellite-based connectivity solutions, including cellular
backhaul, banking, retail, e-government and rural communication
networks. Gilat also enables leading defense, public security and
news organizations to implement advanced, on-the-move tactical
communications on board their land, air and sea fleets using
Gilat's high-performance SOTM solutions.
Gilat is a company under the control of the FIMI Private Equity
Funds. For more information, please visit us at www.gilat.com
Certain statements made herein that are not historical are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. The words "estimate", "project",
"intend", "expect", "believe" and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties. Many
factors could cause the actual results, performance or achievements
of Gilat to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, including, among others, changes
in general economic and business conditions, inability to maintain
market acceptance to Gilat's products, inability to timely develop
and introduce new technologies, products and applications, rapid
changes in the market for Gilat's products, loss of market share
and pressure on prices resulting from competition, introduction of
competing products by other companies, inability to manage growth
and expansion, loss of key OEM partners, inability to attract and
retain qualified personnel, inability to protect the Company's
proprietary technology and risks associated with Gilat's
international operations and its location in Israel. For additional
information regarding these and other risks and uncertainties
associated with Gilat's business, reference is made to Gilat's
reports filed from time to time with the Securities and Exchange
Commission.
CONTACT: Gilat Satellite Networks
Joelle Inowlocki
JoelleI@gilat.com
KCSA Strategic Communications
Phil Carlson, Vice President
(212) 896-1233
pcarlson@kcsa.com
Thomas Mei, Account Executive
(212) 896-1208
tmei@kcsa.com
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