REG - BATM Advanced Comm - Directorate Changes

Batm Advanced CommunicationsAnnouncement

06/10/2022 07:00

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RNS Number : 9495B  BATM Advanced Communications Ld  06 October 2022

LEI: 213800FLQUB9J289RU66

6 October 2022

 

BATM Advanced Communications Limited

("BATM" or "the Group")

 

Directorate Changes

 

The Board of BATM (LSE: BVC; TASE: BVC), a leading provider of real-time
technologies for networking solutions and medical laboratory systems, is
pleased to announce that Moti Nagar, the Group's Chief Financial Officer, is
to be promoted to become its Chief Executive Officer effective from 1 January
2023. Zvi Marom, its current Chief Executive Officer, is to step down on 1
January 2023, but will remain on the Board as Non-Executive Director.

 

Mr. Nagar has been the Group's Chief Financial Officer since 1 January 2015
having joined BATM in June 2014 as VP Finance. Over the past three years, in
addition to being the CFO, Mr. Nagar has been the de facto Chief Operating
Officer of the Group, supporting Dr. Marom in the running of day-to-day
operations. Prior to BATM, Mr. Nagar held several senior positions at Deloitte
from 2005, including as a Senior Manager from 2011-2014. During that time, Mr.
Nagar had various responsibilities, including handling the accounts of leading
corporate clients in Israel and overseas, with companies traded on the LSE,
NASDAQ and TASE, as well as private businesses operating in a range of
sectors.

 

Dr. Gideon Chitayat, Chairman of Board, said: "On behalf of the Board, I
would like to thank Zvi for his tireless commitment and outstanding
contribution to the development and success of BATM since founding it in 1992.
Under his leadership, the team at BATM has delivered exceptional value
creation for shareholders during those years. He passes on BATM in a strong
financial position and with a solid platform to push ahead with the
commercialisation of the IP developed within the Group. We look forward to
benefitting from his continued contribution as a Board member.

 

"It is a measure of our reputation as a business that we are able to attract
and retain high-quality people and I am delighted that Moti has agreed to
become our Chief Executive Officer. Moti brings his sound financial knowledge
to this position and, coupled with his capital markets and M&A expertise,
I am sure he will help shape the future of BATM as a global company. Most
importantly, having helped in running the day-to-day operations over the past
three years, he not only provides continuity but has impressed the Board with
exciting ideas on how to take the Group to the next level. We look forward to
working with him in this new role and leveraging his extensive
experience."

 

Dr. Zvi Marom, Chief Executive Officer of BATM, commented: "It has been a
privilege to serve as Chief Executive Officer of BATM. Since I founded the
business 30 years ago, I have truly enjoyed working with our incredible teams
and I would like to take this opportunity to thank my colleagues with whom I
have had the pleasure of working and who have provided so much inspiration. I
am incredibly proud of what we have achieved together.

 

"With both the Networking & Cyber and Bio-medical divisions at key
inflection points, I feel now is the natural moment for me to hand over the
running of the Group to someone who can progress it to the next stage. It
gives me great confidence to welcome Moti as my successor. Moti has the
necessary pedigree and is highly respected by the people in the Group and our
shareholders. He has my full support as the right person to take BATM forward
on the next leg of its exciting journey. In my new role, I will make myself
available to ensure smooth transition and help wherever I can to enable BATM
to go from strength to strength."

 

Moti Nagar, Incoming Chief Executive Officer of BATM, said: "I am delighted
to take on the role of Chief Executive Officer of BATM. Under the leadership
of Zvi, the remarkable progress over the past few years has created a strong
platform for future growth. I look forward to working closely with the Board,
the BATM team and our key partners as we continue to drive forward a
multi-pronged growth strategy and realise further value for shareholders."

 

 

Enquiries:

 BATM Advanced Communications
 Dr. Zvi Marom, Chief Executive Officer                         +972 9866 2525
 Moti Nagar, Chief Financial Officer

 Shore Capital
 Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)  +44 20 7408 4050

 Henry Willcocks (Corporate Broking)

 Gracechurch Group
 Harry Chathli, Claire Norbury                                  +44 20 4582 3500

 

 

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