Gilat Appoints Yona Ovadia as its New Chief Executive Officer
March 17 2016 - 10:06AM
Gilat Satellite Networks (NASDAQ:GILT), (TASE:GILT), a worldwide
leader in satellite networking technology, solutions and services,
announced today that it has appointed Yona Ovadia as its new Chief
Executive Officer, effective March 31, 2016, replacing Dov Baharav,
who shall remain Gilat's Chairman of the Board of Directors.
On behalf of Gilat's Board of Directors, Dov Baharav stated, "We
are very excited by the appointment of Mr. Ovadia as Gilat's next
CEO. Yona, as a business leader with a strong track record of
delivering results, will be taking Gilat forward to materialize its
promising strategic directions. Yona and I have worked closely
together for many years, and recently at Gilat. His experience and
capabilities will be crucial to Gilat's continued long-term
profitable growth, building and expanding Gilat's strategic
business pillars."
Mr. Baharav continued, “After nearly a year as interim CEO of
Gilat, we have successfully positioned the company as a leader in
its strategic growth markets. I am confident in Gilat's continued
success under the leadership of Yona and the management team in
place, which is poised to successfully capture new opportunities.
As Chairman, I will remain active in realizing Gilat's great
potential in 2016 and beyond."
Mr. Ovadia added, “I am both honored and excited at the
opportunity to be Gilat's next CEO. I am positive that Gilat has
the strategy, the leadership, the technology, the global presence,
and most importantly - the people - to deliver upon its vision,
expand the success we already see and achieve long term profitable
growth as well as make Gilat a place of excitement and fulfillment
for its employees, all over the world."
Mr. Ovadia joined Gilat in April 2015 and had previously served
in various managerial posts at Amdocs for 30 years, including as
Amdocs Executive Management member. In the past, Mr. Ovadia managed
thousands of employees and projects of hundreds of millions of
dollars. Yona holds a BSc in Math and Computer Sciences from Tel
Aviv University.
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
controlling shareholders are 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. We undertake no obligation to update or revise any
forward-looking statements for any reason. 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
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