Yacov Kaufman Steps Down as CFO of Perion; Seasoned Financial Executive Ophir Yakovian to Join Perion as Its CFO
May 04 2017 - 7:40AM
Perion Network Ltd. (NASDAQ:PERI), a global technology leader in
advertising solutions for brands and publishers, announced today
that Yacov Kaufman, Perion CFO for the last 11 years, has decided
to step down in order to pursue other opportunities. Perion
also announced that Ophir Yakovian has agreed to join Perion as its
Chief Financial Officer effective June 13.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/c0e1cc7f-d891-4f8f-a61b-fb961be0aff6.
Ophir is an experienced public company CFO with
more than a dozen years of experience working with NASDAQ-listed
companies.
In the last 16 years, Ophir has held CFO
positions in global publicly traded companies. Most recently, Ophir
served as CFO of the Tnuva Group, Israel’s largest food group,
where he was responsible for leading a major organizational change
in the Finance division, including centralization of functions and
streamlining the workforce. Previously, he was CFO of Lumenis
(traded on NASDAQ under "LMNS"), where he contributed to a
successful business turnaround, including leading cost-reduction
efforts to improve profitability and debt refinancing initiatives
to streamline the balance sheet, ultimately leading to the
successful acquisition of Lumenis by the XIO Group. After beginning
his professional career at Deloitte-Touche (Israel) as an Audit
Senior, he worked as a corporate controller at Metalink, a
NASDAQ-listed company, before joining Verint Systems as Vice
President of Finance and CFO of the local company.
“I am excited to contribute my expertise in
optimizing the expense structure, streamlining operations and
enhancing processes to support sustainable and profitable growth,”
commented Mr. Yakovian.
Doron Gerstel, Perion’s CEO commented, “Ophir’s
public company experience, expertise in operational improvements
and cost reduction are essential factors to facilitate Perion’s
expense optimization, enabling us to redirect investments to drive
long-term growth. I wish to thank Yacov Kaufman for his years of
dedication to Perion. Yacov was instrumental in Perion’s growth,
creating its financial departments, establishing its presence in
multiple capital markets and facilitating numerous international
M&A transactions, taking Perion from a private Israeli startup,
with less than $8 million in revenues, to a publicly traded global
leader in two established market segments with revenues exceeding
$300 million. These are significant accomplishments, and on behalf
of the board, shareholders, and the employees of Perion, I wish him
well in his future endeavors.”
About Perion Network Ltd.
Perion is a global technology company that
delivers advertising solutions to brands and publishers.
Perion is committed to providing data-driven execution, from
high-impact ad formats to branded search and a unified social and
mobile programmatic platform. More information about Perion may be
found at www.perion.com, and follow Perion on
Twitter@perionnetwork.
Forward Looking StatementsThis
press release contains historical information and forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995 with respect to the business, financial
condition and results of operations of Perion. The words “will”,
“believe,” “expect,” “intend,” “plan,” “should” and similar
expressions are intended to identify forward-looking statements.
Such statements reflect the current views, assumptions and
expectations of Perion with respect to future events and are
subject to risks and uncertainties. Many factors could cause the
actual results, performance or achievements of Perion to be
materially different from any future results, performance or
achievements that may be expressed or implied by such
forward-looking statements, or financial information, including,
among others, the failure to realize the anticipated benefits of
companies and businesses we acquired and may acquire in the future,
risks entailed in integrating the companies and businesses we
acquire, including employee retention and customer acceptance; the
risk that such transactions will divert management and other
resources from the ongoing operations of the business or otherwise
disrupt the conduct of those businesses, potential litigation
associated with such transactions, and general risks associated
with the business of Perion including intense and frequent changes
in the markets in which the businesses operate and in general
economic and business conditions, loss of key customers,
unpredictable sales cycles, competitive pressures, market
acceptance of new products, inability to meet efficiency and cost
reduction objectives, changes in business strategy and various
other factors, whether referenced or not referenced in this press
release. Various other risks and uncertainties may affect Perion
and its results of operations, as described in reports filed by the
Company with the Securities and Exchange Commission from time to
time, including its annual report on Form 20-F for the year ended
December 31, 2016 filed with the SEC on March 7, 2017. Perion does
not assume any obligation to update these forward-looking
statements.
Contact Information:
Perion Network Ltd.
Investor relations
Vicky Batkin
+972 (73) 398-1000
investors@perion.com
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