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MAGS -3x Short Magnificent 7 Etp

5.546
0.013 (0.23%)
20 Dec 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
-3x Short Magnificent 7 Etp BIT:MAGS Italy Exchange Traded Fund
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.013 0.23% 5.546 5.333 6.30 6.05 5.532 5.762 2,744 16:35:28

Magal Announces Appointment of Eitan Livneh as President and CEO

03/06/2009 12:56pm

PR Newswire (US)


-3x Short Magnificent 7 ... (BIT:MAGS)
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YAHUD, Israel, June 3 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS; TASE: MAGS) today announced that Mr. Eitan Livneh has been appointed by the Board of Directors as President and CEO, commencing August 2, 2009. Mr. Livneh will replace Mr. Yoav Stern, who is working in the capacity of Acting President and CEO of Magal during the interim period following the departure of the Company's former CEO. Mr. Livneh joins Magal from Tadiran Telecom Ltd., a leading Israel-based telecommunications company, where as President and CEO, he successfully shifted the focus of the company to meet market and customer needs, and improved its profitability. He was previously President and CEO of Elgo Irrigation, and prior to that, a general manager at Packer Plada Group. Mr. Livneh also has many years of experience in the defense industry. From 1989 to 1994, Mr. Livneh was VP Marketing and Assistant to the President of Elisra Electronic Systems, a world leading company in the field of electronic warfare, as well as a major supplier to the Israeli Defense Forces. Mr. Livneh also spent 12 years with the Israeli Navy, achieving the rank of Commander. Mr. Livneh holds a B.A. degree in Economic and Business Administration from Bar-Ilan University in Tel Aviv, Israel. Magal's Chairman of the Board, Mr. Jacob Perry, commented, "We look forward to having Eitan join us and lead our exceptional team to the next stage of our development. Eitan brings many years of managerial experience and knows our industry very well. He is a strong fit for Magal's corporate culture and I am convinced that he will be able to bring out the best in our employees and our Company for many years to come." Mr. Yoav Stern, Acting President and CEO of Magal, commented, "After the changes we have made in Magal-Senstar over the past few months, I believe the Company has in place a management team with the necessary experience and capabilities for increasing shareholder value over the long-term. Future success is a matter of continued focus and commitment to this goal, which I know exists within Magal and Senstar's personnel. I leave Magal with a renewed corporate vision and enhanced workforce, which is well positioned to tackle the many challenges that still lie ahead. I wish Eitan much success in his new role, and I stand ready to assist and support him as necessary." Mr. Perry added, "I would like to thank Yoav for his contribution to Magal over the past eight months, helping us transition through a difficult period in the industry and global economy. In only a short period, he has enabled us to put in place a long-term vision and strategy, which will bring Magal to the next stage of its emergence as a leading and globally focused defense company. Yoav's positive contribution in only a short time will remain ingrained within Magal, long into the future. I wish Yoav well and much success in his future endeavors." About Magal Security Systems Ltd.: Magal S3i is a leading international solutions provider of Safety, Security, Site Management and Intelligence gathering and compilation. Based on 35 years of experience and interaction with customers, the company has developed a unique set of solutions and products, optimized for perimeter, outdoor and general security applications. Magal S3i's turnkey solutions are typically integrated and managed by a single sophisticated modular command and control software, supported by expert systems for real-time decision support. The company's portfolio of critical infrastructure and site protection technologies includes a variety of smart barriers and fences, fence mounted detectors, virtual gates, buried and concealed detection systems and a sophisticated protection package for sub-surface intrusion. A world innovator in the development of CCTV, IVA and motion detection technology for outdoor operation, Magal S3i has successfully installed customized solutions and products in more than 75 countries worldwide. This press release contains forward-looking statements, which are subject to risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission. For more information: Magal Security Systems Ltd. Yoav Stern Tel: +972-3-539-1421 Cell: +972-54-311-3110 Assistant: Ms. Elisheva Almog E-mail: Web: http://www.magal-ssl.com/ GK Investor Relations Kenny Green/Ehud Helft Tel: (US) +1-646-201-9246 Int'l dial: +972-3-607-4717 E-mail: DATASOURCE: Magal Security Systems Ltd CONTACT: For more information: Magal Security Systems Ltd. Yoav Stern, Tel: +972-3-539-1421, Cell: +972-54-311-3110, Assistant: Ms. Elisheva Almog, E-mail: ; GK Investor Relations, Kenny Green/Ehud Helft, Tel: (US) +1-646-201-9246, Int'l dial: +972-3-607-4717, E-mail:

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