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BATM Advanced Communications Ltd - Hod Hasharon, Israel-based networking and medical technology company - Promotes Chief Financial Officer Moti Nagar to become its chief executive officer, effective from January 1 next year. Says its current CEO Zvi Marom will step down on the same date, but will remain on the board as a non-executive director.
Chair Gideon Chitayat says: ‘Moti brings his sound financial knowledge to this position and, coupled with his capital markets and M&A expertise, I am sure he will help shape the future of BATM as a global company. Most importantly, having helped in running the day-to-day operations over the past three years, he not only provides continuity but has impressed the board with exciting ideas on how to take the group to the next level.’
Nagar has been the CFO since 2015. Says he has been the de facto chief operating officer of the group, supporting Marom in the running of day-to-day operations.
Current stock price: 28.03 pence
12-month change: down 67%
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