Ness Technologies Announces CEO Transition,Appointing Sachi Gerlitz to Succeed Raviv Zoller
December 26 2006 - 3:30AM
PR Newswire (US)
HACKENSACK, N.J., Dec. 26 /PRNewswire-FirstCall/ -- Ness
Technologies (NASDAQ:NSTC), a global provider of IT services and
solutions, today announced that President and CEO, Raviv Zoller,
has indicated his intention to transition his role at the end of
the first quarter 2007, citing personal and family reasons. The
Ness board of directors has selected Sachi Gerlitz, an accomplished
senior executive with extensive technology industry experience, to
replace Zoller. Gerlitz will join the Company's executive
management no later than January 10, 2007. Zoller will remain in
his role through the first quarter of 2007 to help ensure a smooth
transition and will continue to serve on the Ness Board of
Directors. Mr. Zoller has been with Ness since its inception, and
has served as President and CEO of Ness since 2001, during which
time the Company has demonstrated continuous growth, reaching
almost a half a billion dollars in sales and 7,500 employees, been
listed on NASDAQ, expanded operations to 16 countries, built a
backlog of almost $600 million, achieved continuous margin
expansion, and built a reputation as a leading global IT services
firm in its target markets. "Raviv has led us through an amazing
period of growth, providing throughout a steady vision, a strong
and effective strategy, and a superior implementation team that
turned the vision into reality," said Aharon Fogel, Chairman of the
Board of Ness Technologies. "Under his leadership, we consolidated
the Ness acquisitions, solidified our offerings, achieved strong
and continuing organic growth, and built a unique, dynamic, capable
organization. Raviv is a gifted colleague and friend, and we wish
him all the best in his future endeavors." "Although I have chosen
to pursue personal and family endeavors at this time, I would not
have made this decision had I not been confident about our current
performance as well as our future prospects, " said Zoller. "I am
very proud of our accomplishments at Ness, and I intend to assist
our new CEO in any capacity needed for the continued success of the
Company. The senior and extended management team at Ness is very
strong and deep, and I am comfortable moving on from such a
capable, stable organization with a solid long-term working plan. I
am confident that Ness will continue to succeed and thrive." "I am
very proud to be joining the Ness Technologies team," said Gerlitz.
"In the weeks ahead, I plan to work closely with Raviv to
transition the leadership of the Company, and I look forward to
picking up the helm of this prestigious and admired global IT
services company. I have been most impressed by the quality and
depth of the world-class Ness team, and I am confident that Ness is
well positioned for future success." "We welcome Sachi to Ness, and
we feel confident that under his leadership Ness will continue to
grow its revenues, expand its profit margins, and create additional
value for its shareholders," said Aharon Fogel, Chairman of the
Board. Mr. Gerlitz joins Ness from his current position as acting
chairman of Mobixell Networks and Chairman of the Board of the
Israel Mobile Association. From 2001 through 2006, Gerlitz was a
partner at Apax Partners, a large, global private equity firm
managing assets of over $25 billion, where he focused on leveraged
transactions and technology investments. He also served on the
boards of directors of a number of public and private companies,
such as Bezeq, Starhome BV, Crescendo Networks and Bitband
Technologies. Prior to joining Apax Partners, Gerlitz served for 10
years at Comverse Technologies, through 2000, including as
president of the Asia Pacific division, vice president of business
development and marketing, chief technology officer, and executive
vice president. Before joining Comverse, he served in various roles
at Telrad Telecommunication Industries, Hadassah University
Hospital, and the Israeli Defense Force. Gerlitz has a B.Sc. in
Electronic Engineering from Tel- Aviv University, in 1978, and is a
graduate of the Business Administration Program for Industry
Management from Bar-Ilan University. The Company intends to hold a
conference call with Zoller and Gerlitz in January 2007 to
introduce Gerlitz to investors and to discuss the transition plan.
Call details will be announced at a future date. About Ness
Technologies Ness Technologies (NASDAQ:NSTC) is a global provider
of end-to-end IT services and solutions designed to help clients
improve competitiveness and efficiency. Ness specializes in
outsourcing and offshore, systems integration and application
development, software and consulting, and quality assurance and
training. With 7,500 employees, Ness maintains operations in 16
countries, and partners with over 100 software and hardware vendors
worldwide. For more information about Ness Technologies, visit
http://www.ness.com/. Forward Looking Statement This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements often are preceded by words such as "believes,"
"expects," "may," "anticipates," "plans," "intends," "assumes,"
"will" or similar expressions. Forward-looking statements reflect
management's current expectations, as of the date of this press
release, and involve certain risks and uncertainties. Ness' actual
results could differ materially from those anticipated in these
forward looking statements as a result of various factors. Some of
the factors that could cause future results to materially differ
from the recent results or those projected in forward-looking
statements include the "Risk Factors" described in Ness' Annual
Report of Form 10-K filed with the Securities and Exchange
Commission on March 15, 2006. Media contact: David Kanaan USA:
1-888-244-4919 Intl: +972-3-540-8188 Email: Investor contact: Drew
Wright USA: 1-888-267-8160 Email: DATASOURCE: Ness Technologies
CONTACT: Media: David Kanaan, USA: 1-888-244-4919, Intl:
+972-3-540-8188, , or Investor: Drew Wright, USA: 1-888-267-8160, ,
both of Ness Technologies Web site: http://www.ness.com/
Copyright
Ness (NASDAQ:NSTC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ness (NASDAQ:NSTC)
Historical Stock Chart
From Jul 2023 to Jul 2024