Board change - New CFO appointed
Visonic (LSE: VSC.L; TASE: VSC.TA), the international developer and manufacturer of electronic security systems (alarms) and home management systems, is pleased to announce the appointment of Yair Naaman to the Board with immediate effect. Mr. Naaman is taking up the position of Chief Financial Officer, replacing Shmuel Koren who, as previously announced on 18 September 2006, will be leaving Visonic after a handover period, to join another company in an
unrelated sector as Chief Executive.
Mr. Naaman, who is 61, has a distinguished career spanning more than 30 years in financial roles in major international companies. This experience includes CFO of American-Israeli Paper Mills, quoted on AMEX and TASE. He was also Head of the Finance Department of Koor Industries, then the largest conglomerate in Israel and still listed on the NYSE and TASE, where he was involved in the IPOs of Koor Industries and a number of Koor’s subsidiaries on international stock exchanges.