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YAHUD, Israel, September 6 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM:MAGS, TASE:MAGS) today announced that the company's Board of Directors appointed Mr. Izhar Dekel, currently the President of the Company, to also serve as CEO. Mr. Dekel will replace Mr. Jacob Even-Ezra, who has been the CEO of Magal since its inception. Mr. Even-Ezra will continue to serve as the Chairman of the Board of the Company.
The Board also decided to appoint Mr. Jacob Perry as Deputy Chairman of the Board. Mr. Perry has served as a director of the Company since December 2002. From 1995 to December 2002, Mr. Perry was President and CEO of Cellcom Israel Ltd. Mr. Perry served with the Israeli General Security Service for 29 years, and served as its chief from 1988 until 1995. Mr. Perry has also served as an adviser to the Israeli Prime Minister on the subject of prisoners of war and missing persons. He was a member of the management of many public organizations and also serves as chairman of the board of directors of Mizrahi Tefahot Bank B.M. and Lipman Electronic Engineering Ltd. Mr. Perry holds an A.M.P. from Harvard Business School and a B.A. in Oriental Studies and History of the Jewish People from Tel-Aviv University.
The appointments are effective as of September 1, 2006.
About Magal Security Systems, Ltd.:
Magal Security Systems Ltd. (Magal) is engaged in the development, manufacturing and marketing of computerized security systems, which automatically detect, locate and identify the nature of unauthorized intrusions. Magal also supplies video monitoring services through Smart Interactive Systems, Inc., a subsidiary in the U.S. The Company's products are currently used in more than 70 countries worldwide to protect national borders, airports, correctional facilities, nuclear power stations and other sensitive facilities from terrorism, theft and other threats. Israeli-based Magal has subsidiaries in the U.S., Canada, the U.K., Germany, Romania, Mexico and an office in China.
Magal trades under the symbol MAGS in the U.S. on the Nasdaq National Market since 1993 and in Israel on the Tel-Aviv Stock Exchange (TASE) since July 2001.
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.
Contacts:
Company Investor Relations
Magal Security Systems, Ltd Gelbart Kahana Investor Relations
Raya Asher, CFO Ehud Helft/Kenny Green
Tel: +972-3-5391444 Tel: +1-866-704-6710
Fax: +972-3-5366245 E-mail:
E-mail:
DATASOURCE: Magal Security Systems Ltd
CONTACT: Company, Magal Security Systems, Ltd, Raya Asher, CFO, Tel:
+972-3-5391444, Fax: +972-3-5366245, E-mail: ,
Investor Relations, Gelbart Kahana Investor Relations, Ehud Helft/Kenny
Green, Tel: +1-866-704-6710, E-mail: ,