YAHUD, Israel, April 16/PRNewswire-FirstCall/ -- Magal Security Systems announced today the appointment of Mr. Zev Morgenstern as its new Chief Financial Officer. As of today Mr. Morgenstern will replace Ms. Lian Goldstein, who has advised the Company of her resignation for personal reasons.
Mr. Morgenstern has over 20 years of experience in financial management. Prior to his appointment at Magal, Mr. Morgenstern served for 11 years as Chief Financial Officer of Advanced Vision Technology Ltd., a public company traded on the Frankfurt Stock Exchange, a world's leading supplier of automatic optical inspection and quality assurance systems for the printing industry. He previously served as Finance Manager of Precise Software Solutions, a company listed on the NASDAQ stock exchange, headquartered in Boston, MA. Mr. Morgenstern is a CPA and has also served as a senior auditor at KPMG.
Yoav Stern, acting President and CEO, stated, "We wish Lian well, and understand and support her decision. We look forward to Mr. Morgenstern's contribution in realizing Magal's growth potential and we are confident that given his broad experience and impressive track record, he will play an integral role in our management team."