14th Sep 2007 07:00
Telit Communications PLC14 September 2007 Telit Communications plc Directorate Change Rome - Italy, 14 September 2007 - Telit Communications plc, a global leader inmachine-to-machine (M2M) communications, is pleased to announce the appointmentof Michael Galai as Finance Director with effect from 13 September 2007. Mr. Galai, 40, has been at Telit since October 2006 and is currently thecompany's Vice President, Legal and General Counsel. During his tenure atTelit, Mr. Galai has been highly involved with the company's business, financeand accounting issues. Before joining Telit, Mr. Galai was General Counsel ofLipman Electronic Engineering Ltd. (Nasdaq, TASE: LPMA), where he took an activepart (legal, accounting and finance) in a secondary offer to the public in 2005and the company's sale to VeriFone Holdings, Inc. (NYSE: PAY) in late 2006 for$1 billion. Prior to Lipman, Mr. Galai was an associate at one of Israel'sleading law firms, where he took part in numerous cross-border transactions, M&As and public offerings. Before that, Mr. Galai spent six year in the IsraelSecurities Authority, holding a variety of enforcement and legal positions. Mr.Galai holds an MBA (major in finance), an L.L.B from the Tel Aviv UniversitySchool of Law and is a member of the Israeli Bar. The current Finance Director, Avi Israel, will leave the Board on 13 September2007 to take up the appointment of Chief Executive officer of Telit's formerWireless Products division ("TWP") following the conclusion of negotiations tosell the division in July. Oozi Cats, Chief Executive of Telit, said: "This important appointment followed a thorough search internally andexternally. The Board and the management team at Telit look forward to workingwith Michael in his new role. I would also like to thank Avi Israel for hisdedication and valuable contribution to Telit and wish him well for the future." About Telit Telit is a rising global wireless technology company. It develops, manufacturesand markets GSM/GPRS, UMTS/HSDPA and CDMA/EVDO enterprise communication modulesfor machine-to-machine (m2m) applications which streamline business processes byenabling machines, devices and vehicles to communicate via mobile networks.Telit's products are sold and deployed worldwide through offices in China,Denmark, France, Germany, Great Britain, Israel, Italy, Korea, Spain, Taiwan,and the USA. Telit Communications PLC is listed on the AIM (Ticker: TCM). Formore information about the company, please visit www.telit.com. For further information please contact: Telit Communications plcMaya Lustig, VP Investor Relations Tel: +972 (3) [email protected] Seymour Pierce LimitedStuart Lane Tel: +44 (0) 20 7107 8000 www.seymourpierce.com The Global Consulting GroupJonathan Shillington Tel: +44 (0) 7900 053 [email protected] www.hfgcg.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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