Ethernity Networks Ltd Update on Chairman (4777P)
February 18 2021 - 2:00AM
UK Regulatory
TIDMENET
RNS Number : 4777P
Ethernity Networks Ltd
18 February 2021
18 February 2021
ETHERNITY NETWORKS LTD.
("Ethernity" or the "Company")
Update on Chairman
Further to the Company's announcement on 29 December 2020,
Ethernity (AIM: ENET ), a leading supplier of data processing
offload solutions on programmable FPGA (field programmable gate
array) hardware for accelerating telco/cloud networks, announces
that Graham Woolfman has stepped down from the Board as Chairman
and director of the Company following the end of his formal notice
period.
The process of recruiting his successor is at an advanced stage
and the Company expects to conclude the appointment by early next
month. A further announcement will be made in due course.
During the intervening period David Levi, Chief Executive
Officer, will today assume the role of Interim Executive Chairman,
and Neil Rafferty, independent non-executive director, will take on
responsibility for corporate governance. Under Israeli law, the
Chairman may not be a member of either the Remuneration or Audit
Committees, and this will allow the two external directors and the
independent non-executive director to remain as members of those
committees and the Remuneration and Audit Committees to retain
their current composition.
David Levi, Chief Executive Officer and Interim Chairman, said:
"We wish to thank Graham for his contribution to the Company over
the past three and a half years, and the Board wishes him success
in his future ventures."
For further information, please contact:
Ethernity Networks Tel: +972 8 915 0392
David Levi, Chief Executive Officer
and Interim Chairman
Mark Reichenberg, Chief Financial Officer
Arden Partners plc (NOMAD and Joint Tel: +44 207 614 5900
Broker)
Richard Johnson / Benjamin Cryer
VSA Capital Limited (Joint Broker) Tel: +44 20 3005 5000
Andrew Monk, Corporate Broking
Simon Barton, Corporate Finance
Peterhouse Capital Limited (Joint Broker) Tel: +44 20 7562 0930
Lucy Williams / Duncan Vasey / Eran
Zucker
About Ethernity ( www.ethernitynet.com )
Ethernity Networks Ltd. (AIM: ENET) provides innovative,
comprehensive networking and security solutions on programmable
hardware for accelerating telco/cloud networks performance.
Ethernity's FPGA logic offers complete Carrier Ethernet Switch
Router data plane processing and control software with a rich set
of networking features, robust security, and a wide range of
virtual function accelerations to optimize telecommunications
networks. Ethernity's complete solutions quickly adapt to
customers' changing needs, improving time-to-market and
facilitating the deployment of 5G and edge computing.
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END
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