GlobeNewswire – REE Automotive Ltd. (Nasdaq: REE), an automotive
technology company and provider of electric vehicle (EV) platforms,
today announced that David Goldberg, who has served as Chief
Financial Officer since 2022, will be stepping down from his
current executive duties on March 28, 2023, to pursue other career
opportunities. He will continue to work with the company through
the end of June 2023 in a new role as a senior advisor. David will
be succeeded by Mr. Yaron Zaltsman who has been appointed Chief
Financial Officer effective March 29, 2023.
Mr. Zaltsman is an experienced CFO and Board
Member of several publicly listed companies, overseeing all capital
market aspects, financial reporting, and credit rating agency
relationships. Over the last 20 years he has led IPOs and
fundraising totaling over $3 billion. In Mr. Zaltsman’s last public
company CFO role, he led the acquisition of Fyber, an
industry-leading in-app advertising technology by Digital Turbine
for $650 million.
“I want to thank David as he has been a key
leader of REE’s finance team and an integral part of our initial
growth phase. We appreciate David's contributions and his support
through the transition and wish him all the best going forward,”
said Daniel Barel, Co-Founder and CEO of REE Automotive. “I also
want to warmly welcome Yaron as the new CFO of REE. Given his
proven track record working with public companies, Yaron brings a
diverse range of strategic experience and financial discipline, and
his expertise in capital management and deployment will help us to
deliver on our commitments to our customers and partners while
maintaining a strong financial foundation.”
REE today also announced several changes to its
board of directors, which represent diverse backgrounds in
business, finance, technology, and mobility that will guide REE’s
strategic vision. REE appointed the following two new directors,
Mr. Hicham Abdessamad and Mr. Ittamar Givton to its Board. Mr.
Givton will serve as an independent director and will be a member
of the Company’s Audit Committee. These appointments, effective
March 29, 2023, will bring the board to seven directors, of which
four are independent directors and will satisfy the Nasdaq minimum
requirements for the audit committee. REE also announced the
resignation of board member Mr. Hans Thomas, due to personal
reasons.
“I would like to welcome Hicham and Ittamar to
REE. I am confident they will help to strengthen the board’s
expertise with new additional capabilities to support our next
phase of growth and to capitalize on the significant market
opportunity we see for REE,” said Chairman of the Board, Arik
Shteinberg. “On behalf of the entire board, I also want to thank
Hans Thomas for his significant contributions to the company during
the past two years.”
Mr. Hicham Abdessamad
(Director)
Hicham is the Chairman & CEO of Hitachi
America, Ltd, overseeing the growth objectives of Hitachi’s North
America business across key sectors such as Digital, Green &
Mobility, and Innovation. Hitachi in North America has a portfolio
of 72 companies and 19 R&D facilities operating in 37 states,
with over 24,700 employees. He also serves as an advisor on the
investment advisory committee (IAC) appointed by the United States
Secretary of Commerce, Gina Raimondo. Hicham has held multiple
executive roles within Hitachi, including CEO of Hitachi Global
Digital Holdings, President and CEO of Hitachi
Consulting.
Mr. Ittamar Givton (Independent
Director and Member of the Audit Committee)
Ittamar served on the boards of
several Government entities and public companies in Israel,
across the energy, banking, chemical, and communication sectors as
well as on the board of the Israeli Stock Exchange. In addition,
Ittamar served for many years as Managing Director of Automotive
Equipment Group in Israel (importer of Suzuki, Man and Bridgestone,
among others) and is now serving as Chairman of the Group's
Advisory Committee. Prior to his work in AEG, Ittamar held a senior
position in the Budget Department of the Israeli Ministry of
Finance and later served as VP for Business Development in the
Dankner Group. Mr. Givton holds a BA in Economics from Tel
Aviv University and an LL.B from the Hebrew University in
Jerusalem.
Media ContactMalory Van
GuilderSkyya PR for REE Automotive +1
651-335-0585ree@skyya.com
Investor ContactKamal HamidVP
Investor Relations | REE Automotive+1
303-670-7756investors@ree.auto
About REE AutomotiveREE
Automotive (Nasdaq: REE) is an automotive technology company that
allows companies to build any size or shape of electric vehicle on
their modular platforms. With complete design freedom, vehicles
Powered by REE are equipped with the revolutionary REEcorner™,
which packs critical vehicle components (steering, braking,
suspension, powertrain and control) into a single compact module
positioned between the chassis and the wheel, enabling REE to build
the industry’s flattest EV platforms with more room for passengers,
cargo and batteries. REE platforms are future proofed, autonomous
capable, offer a low TCO, and drastically reduce the time to market
for fleets looking to electrify. To learn more visit
www.ree.auto.
Caution About Forward-Looking
StatementsThis communication includes certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include, but are not limited to, statements regarding
REE or its management team’s expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
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“seek,” “should,” “would”, “designed,” “target”, “will” and similar
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statements, other than statements of historical facts, may be
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communication may include, among other things, statements about
REE’s strategic and business plans, technology, relationships,
objectives and expectations for our business, the impact of trends
on and interest in our business, intellectual property or product
and its future results, operations and financial performance and
condition.
These forward-looking statements are based on
information available as of the date of this communication and
current expectations, forecasts, and assumptions. Although REE
believes that the expectations reflected in forward-looking
statements are reasonable, such statements involve an unknown
number of risks, uncertainties, judgments, and other factors that
may cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by forward-looking statements.
These factors are difficult to predict accurately and may be beyond
REE’s control. Forward-looking statements in this communication
speak only as of the date made and REE undertakes no obligation to
update its forward-looking statements, whether as a result of new
information, future developments or otherwise, should circumstances
change, except as otherwise required by securities and other
applicable laws. In light of these risks and uncertainties,
investors should keep in mind that results, events or developments
discussed in any forward-looking statement made in this
communication may not occur.
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