Mr. Itzhak Nissan will officially begin his role as Israel Aircraft Industries (IAI)'s President & CEO as of today. Mr. Ehud Olmert - Acting Prime Minister of the State of Israel, in his role as Minister of Finance, and Mr. Shaul Mofaz - Minister of Defense have authorized the appointment of Mr. Itzhak Nissan as the company's President & CEO. On December 29, 2005, IAI's Board of Directors, chaired by Mr. Yair Shamir, unanimously selected Itzhak Nissan as the appointed company's President & CEO.
Mr. Nissan joined IAI in 1978 as a systems engineer and led the development of the main assault system for the Israel Navy. From 1995 to 2002 he was General Manager of IAI's MBT Division, dealing with products for space, missiles and precision guided munitions for the Israel Defense Forces (IDF) and for export. In recognition of MBT's achievements under Mr. Nissan's leadership, Mr. Nissan was awarded the Manufacturers Association of Israel Industry Award for 2001. In 2002, Mr. Nissan became Corporate Vice President & General Manager of the Systems Missiles & Space Group. With $600 million in annual sales, the Group develops and produces weapon and space systems, including the Arrow Weapon System, Barak ship defense missile system and the OFEQ and AMOS families of satellites.
Mr. Nissan has a wealth of experience in marketing and entrepreneurship in defense and commercial arenas. He has lead innovative concepts that resulted in large scale programs, and he has proven his ability to change and to improve the performance of organizations he has managed. Mr. Nissan has a B.Sc and M.Sc degrees, both with honors, in Electrical Engineering and Radar, from The University of Washington in Seattle, U.S.
In his letter to the incoming President & CEO, Mr. Itzhak Nissan, the former President & CEO, Mr. Moshe Keret wrote: "Today I leave with feelings of great pride for the company's huge achievements. I wish you, Nissan, success in your role as IAI's President & CEO. Based on my acquaintance with you and your capabilities, I am sure you will lead the company to new heights."
Mr. Nissan said: "I am aware of the great responsibility. I will do my outmost to lead the company to new achievements and to justify the trust given to me."
IAI's Chairman of the Board, Mr. Yair Shamir, congratulated Mr. Nissan and said: "I have great confidence in Mr. Nissan's ability to lead the company to new heights, in Israel and abroad, in both the commercial and the military arenas."
About Israel Aircraft Industries
Israel Aircraft Industries (IAI) is Israel's largest industrial exporter and globally recognized leader for defense and commercial markets. IAI provides unique and cost-effective technological solutions for broad spectrum of needs in space, air, land, sea and homeland defense. IAI is established leader in vast number of fields including: design, production and certification of executive an business jets, maintenance and conversions of commercial aircraft unmanned air and ground vehicles, radars, EW, Anti-Tactical Ballistic Missiles (ATBM), electro-optical and radar payloads, navigation systems, Communication Satellites, Observation Satellites and Satellite Ground Control Stations.
For further information, please contact:
Doron Suslik
Deputy Corporate Vice President for Communications
Tel: 972 (3) 935-8509
Fax: 972 (3) 935-8512
Email: hpaz@iai.co.il