Nova Announces the Appointment of a New Chief Financial Officer
August 29 2005 - 7:00AM
PR Newswire (US)
Dror David to Take Over as CFO, Chai Toren Resigns as CFO After 10
Years With Nova REHOVOT, Israel, August 29 /PRNewswire-FirstCall/
-- Nova Measuring Instruments Ltd. (NASDAQ:NVMI), the market leader
in integrated measurement and process control for the semiconductor
industry, today announced Dror David is to assume the position of
Chief Financial Officer in November 2005. This follows the
resignation of Chai Toren in order to pursue other opportunities.
Mr. Toren has agreed to remain with the company during a transition
period. Mr. Toren has been with Nova Measuring Instruments' for ten
years, serving as its Finance Manager, Operations Manager and after
its initial public offering, as its Chief Financial Officer. He
successfully helped steer the company from its early days as a
start-up company to a successful publicly listed company. Through
his time at Nova, Mr. Toren also played a major role in the success
of Nova's IPO, was responsible for maintaining relations with the
investing community, and most recently he was leading the company's
efforts into compliance with the Sarbanes-Oxley requirements. Dror
David will serve in the position of Chief Financial Officer after a
4-month transition period. Mr. David has been with Nova Measuring
Instruments' since 1998, in the positions of Controller, Operations
Manager and currently serves as Finance Manager & Corporate
Secretary. Before joining the company, Mr. David worked as an Audit
Manager for Deloitte & Touche, one of the top-4 accounting
firms. Chai Toren commented, "I have thoroughly enjoyed my time
with Nova and I believe that I am leaving behind a strong company,
that is well positioned with the right strategy, right technology
and right people for great business success. After ten years, I am
very much looking forward to pursuing new challenges and
opportunities. I have worked closely with Dror for many years and
wish him every success in his new position as CFO." Dr. Giora
Dishon, Chief Executive Officer, thanked Chai for his great
contribution to the company over the years and said, "Chai has been
an exceptional CFO and we will miss him. We are very pleased that
he has chosen to stay to ensure a smooth transition to his
replacement, Dror David, also a long-time veteran of Nova. Dror's
strong accounting background and experience both prior to and
within Nova, makes him the ideal candidate for the job." Mr. Dishon
concluded, "We wish Chai every success in the future and thank him
for his long service to Nova's success." About Nova: Nova Measuring
Instruments Ltd. develops, designs and produces integrated process
control systems in the semiconductor manufacturing industry. Nova
provides a broad range of integrated process control solutions that
link different semiconductor processes and process equipment. The
Company's website is http://www.nova.co.il/ Company Contact:
Investor relations Contacts: Dror David, VP Finance Ehud Helft /
Kenny Green Nova Measuring Instruments Ltd. Gelbart Kahana Tel:
+972-8-938-7505 Tel: +1-866-704-6710 E-mail: E-mail :
http://www.nova.co.il/ Kenny Green, Gelbart Kahana, Tel:
+1-866-704-6710 E-mail : Ehud@gk-biz.com Kenny@gk-biz.com
DATASOURCE: Nova Measuring Instruments, Ltd CONTACT: Company
Contact: Dror David, VP Finance, Nova Measuring Instruments Ltd.
Tel: +972-8-938-7505 E-mail: http://www.nova.co.il/ Investor
relations Contacts: Ehud Helft x
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