Amiad Water Systems Ltd Directorate Change (3756A)

TIDMAFS

RNS Number : 3756A

Amiad Water Systems Ltd

07 June 2016

7 June 2016

Amiad Water Systems Ltd.

("Amiad" or the "Company")

Directorate Change

Amiad (AIM: AFS), a leading global producer of water treatment and filtration solutions, announces that Mr Arik Dayan, the Company's Chief Executive Officer and Director, yesterday informed the Board of Directors of his intention to step down from his post to pursue other interests and new challenges. Arik Dayan will remain as the CEO and on the Board of Directors until a replacement is found and a period of orderly handover occurs.

Arik Dayan, Chief Executive Officer of Amiad, said: "After thoughtful consideration I have taken this decision to step down as the CEO of the Company. In my 16 years at the Company, seven of those as Chief Executive, it has been my privilege to lead Amiad and see it become a leading global producer of water treatment and filtration solutions. I wish all the Amiad employees and stakeholders continued success."

The Board has formed a search committee comprising the Chairman of the Board of Directors, Eli Opper, and non-executive directors, Amos Shalev and Derek Zissman, to find a replacement. The Board has resolved to proceed with a gradual succession process for the position of the Company's CEO.

Mr Eli Opper, Chairman of Amiad, commented: "On behalf of the Board of Directors and the whole of Amiad, we thank Arik for his exemplary service to the Company over the last two decades. We are sorry to see him leave and we wish him all the best for the future. We will commence the search for his replacement and update the market in due course."

Enquiries

 
 Amiad Water Systems Ltd. 
--------------------------------  ----------------- 
 Eli Opper, Chairman 
  Arik Dayan, Chief Executive 
  Officer 
  Irit Ben-Dov, Chief Financial 
  Officer                          [phone] 
--------------------------------  ----------------- 
 
 Stifel Nicolaus Europe 
  Ltd. 
--------------------------------  ----------------- 
 Stewart Wallace, Ben Maddison     [phone] 
--------------------------------  ----------------- 
 
 Luther Pendragon Ltd. 
--------------------------------  ----------------- 
 Harry Chathli, Claire Norbury     [phone] 
--------------------------------  ----------------- 
 

About Amiad

Amiad Water Systems (AIM: AFS) is a leading global producer of automatic, self-cleaning water treatment and filtration products and systems. Through its engineering skills and ability to innovate, Amiad provides cost-effective "green" solutions for the industrial, municipal, irrigation, oil & gas and ballast water markets. In these segments its patented products are being integrated into the core of systems for filtration and water treatment, micro irrigation and membrane protection, wastewater and potable water treatment, cooling systems and sea water filtration.

Headquartered in Israel, Amiad provides these solutions through nine subsidiaries and a comprehensive network of over 170 distributors to customers in more than 80 countries.

For additional information or product details, please visit www.amiad.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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June 07, 2016 02:01 ET (06:01 GMT)