AIRPORT CITY BUSINESS PARK, Israel, June 27,
2012 /PRNewswire/ --
RRsat Global Communications Network Ltd. (NASDAQ: RRST),
is pleased to announce the appointment of Mr. Avi Cohen as the Company's Chief Executive
Officer effective July 1, 2012. Mr.
Cohen will be replacing David Rivel,
founder and CEO of the Company, who last year announced his intent
to retire by the end of June
2012.
Mr. Cohen has 30 years of business leadership experience in
various positions at a number of high technology and
telecommunication firms. Most recently, from December 2008, he served as President and Chief
Executive Officer of Orbit Technologies, a leading manufacturer and
provider of Satellite Communication equipment, listed on the Tel
Aviv Stock Exchange. Mr. Cohen also serves as a Director of
Nova Measuring Instruments, a NASDAQ listed company.
Prior to joining Orbit, from September
2006, Mr. Cohen served as Chief Operating Officer and Deputy
to the CEO at ECI Telecom. Prior to ECI, Mr. Cohen served in a
variety of management positions at KLA-Tencor. From 2003, he was a
Group Vice President, Corporate Officer and Member of the Executive
Management Committee based at KLA-Tencor's corporate headquarters
in the U.S. During his tenure, he successfully led the
creation of KLA-Tencor's global Metrology Group. From 1995,
he was the President of KLA-Tencor Israel, responsible for the
Optical Metrology Division. Before joining KLA-Tencor, Mr.
Cohen spent three years as Managing Director of Octel
Communications, Israel (later sold
to Avaya), after serving as Chief Executive Officer of Allegro
Intelligent Systems, which he founded in 1985 and was acquired by
Octel.
Mr. Cohen holds B.Sc. and M.Sc. degrees in electrical
engineering and applied physics from Case
Western Reserve University, USA.
"We are extremely pleased to have Avi
Cohen join us and lead the RRsat team," commented Dr.
Shlomo Shamir, Chairman of the Board
at RRsat. "Based on Avi's long track record of notable and repeated
successes both in Israel and
internationally, we recognized his ability to add significant value
to RRsat and its shareholders, and we believe he can take our
Company to the next level in its growth path, further strengthening
our position as a global leader in our industry. We are delighted
to have been able to recruit someone of Avi's caliber and we wish
him much success in this new position."
"I would also like to convey our thanks and appreciation to
David Rivel for doing a tremendous
job over many years, in building and leading the Company to its
current position as one of the global leaders in this field. We are
very fortunate to have David continue to serve as a Director on the
Board of Directors, supporting our continued growth through his
consulting role."
"I am very excited about RRsat's potential ahead," said
Avi Cohen, RRsat's newly appointed
Chief Executive Officer. "It's a great pleasure to join a company
with a talented and dynamic team in place, and I very much look
forward to working with this team to meet the challenges
ahead."
About RRsat Global Communications
Network Ltd.
RRsat Global Communications Network Ltd. (NASDAQ: RRST) provides
global, end-to-end, content management and distribution services to
the rapidly expanding television and radio broadcasting industries,
covering more than 150 countries. Through its RRsat Global Network,
composed of satellite and terrestrial fiber optic capacity and the
public Internet, RRsat provides high-quality and flexible global
distribution services 24/7 to more than 630 channels reaching
multiplatform operators, Internet TV and direct-to-home viewers
worldwide and also offers occasional use services for sports, news
and events with a fleet of flyaways and over 10 transportable
satellite news gathering services (SNG) units. More than 130
television and radio channels use RRsat's advanced production and
playout centers comprising comprehensive media asset management
services. Visit the company's website http://www.rrsat.com
This press release contains forward
looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding (i) the growth of our business and the television and
radio broadcasting industries, (ii) our expectation to expand our
client base and sell additional services to our existing client
base, (iii) our ability to successfully integrate the teleports we
acquired, (iv) our ability to develop and commercialize the
RRinternetTV service, (v) our expectation to extend the average
length of our contracts in the future, (vi) our ability to develop,
expand and commercialize our HD Platform, (vii) our ability to
report future successes, (viii) our ability to expand our activity
in the American market, and (ix) our intention to distribute
dividends in the future and the size of any dividends declared.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the companies and the
industry as of the date of this press release. The company
undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or to changes
in its expectations, except as may be required by law.
Forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially from those
contemplated by the forward-looking statements, including the risks
indicated in our filings with the Securities and Exchange
Commission (SEC). For more details, please refer to our SEC filings
and the amendments thereto, including our Annual Report on Form
20-F for the year ended December 31,
2011 and our Current Reports on Form 6-K.
Company Contact Information:
Itzhak Zion, CFO
Tel: +972-3-928-0777
Email: investors@rrsat.com
External Investor Relations Contacts:
Ehud Helft / Kenny Green
Tel: +1-646-201-9246
rrsat@ccgisrael.com
SOURCE RRSat Global Communications Network Ltd