Israel-based Magal Security Systems announced Wednesday that interim President and CEO Yoav Stern will be replaced by Eitan Livneh in August.
A former president and CEO of Tadiran Telecom and Elgo Irrigation, Livneh has a wealth of executive, as well as defense industry experience, having served as vice president of marketing for Elisra Electronic Systems, a developer of electronic warfare solutions and major supplier for the Israeli Defense Forces. Livneh also served 12 years in the Israeli Navy and holds a bachelor’s degree in economics and business administration form Bar-Ilan University.
"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,” stern said in a prepared statement. “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."