Amiad Water Systems Ltd – AFS – Directorate Change
Amiad (AIM: AFS), a leading global producer of water treatment and filtration solutions, announces that Mr Derek Zissman, a statutory external director of the Company, has retired from the Board of Directors with immediate effect. This follows Mr Zissman's completion of his second three-year term as an external director.
Public companies incorporated under the Israeli Companies Law are required to appoint at least two statutory external directors, each serving a minimum of one three-year term. Following Mr Zissman's retirement, Mr Arie Schor has become the Company's sole statutory external director. Accordingly, the Company is required to appoint at least one additional statutory external director as soon as possible. The Company has commenced a search and will update the market in due course. In addition, following Mr Zissman's retirement, Mr Schor has assumed the role of chairman of the Audit Committee.
Yariv Avisar, Chairman of Amiad, said: "We would like to thank Derek for his tremendous contribution to Amiad over the last six years - in particular, as chairman of the Audit Committee and his role in the investment by FIMI. He has also provided excellent insight into the UK market and has been a great support to me as Chairman. We wish him all the best in his future endeavours."