YAHUD, Israel , November 10 /PRNewswire-FirstCall/ -- Magal Security Systems today announced that its Board of Directors has accepted the resignation of Mr. Izhar Dekel , the Company's Chief Executive Officer, President and Director, who sought to be relieved from his positions after serving the company for 25 years, including 15 years as its president and the last two years also as its CEO. While the resignation from his positions as director and as president shall have immediate effect, Mr. Dekel has agreed to continue to serve as the Company's CEO for a transition period which shall end within six (6) months.
Commenting on the departure, Mr. J. Perry , the Chairman of the Board of Directors stated, "Izhar served Magal for 25 years, and became an integral part of the development and growth of this company. We thank Izhar for his outstanding loyalty, efforts and contribution, and I would like to join the rest of the Board in wishing him the best of success in his new endeavors. He will always remain part of the Magal family."
Mr. Izhar Dekel commented: "My feelings today, as I choose to take this step forward, are mixed with pride for what we have all achieved together in Magal, and a feeling of sorrow as I am leaving an outstanding team of professionals and loyal employees who have provided me with great support. Together we have built Magal to be a leading player in the security market with a strong foundation and a bright future."