logo
Share SHARE
FONT-SIZE Plus   Neg

On Track Innovations Announces Resignation Chairman And President & CMO

On Track Innovations Ltd. (OTVI) said Monday that its Chairman Oded Bashan and President & CMO Ohad Bashan have submitted letters of resignation, resigning from their respective positions with the company and its subsidiaries, effective June 23, 2013, which is the last date of the advance notice period according to their employment contracts.

Oded Bashan will retain his role as a director on On Track Innovations' board.
Oded Bashan founded On Track Innovations about 23 years ago and managed it since then.

Ohad Bashan joined the company 16 years ago and served in several positions. In the last 5 years , he acted as the President and CMO of On Track Innovations and the CEO of OTI America.

The company said it expects to fill the vacancies left by the resignations of Oded Bashan and Ohad Bashan by or before June 23, 2013, including the position of Chief Executive Officer, which became vacant on December 12, 2012 as announced earlier this month.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Telefonaktiebolaget LM Ericsson gained around 4 percent in the morning trading in Stockholm after Swedish telecom equipment maker announced Monday the departure of Hans Vestberg as its President and CEO as well as a Board member, with immediate effect. The move follows a sharp decline in its second quarter profit that triggered significant cost cut initiatives. Dutch consumer electronics giant Philips Electronics NV reported Monday significantly higher profit in its second quarter, mainly with Funai arbitration award, despite weak sales. Comparable sales growth was 3 percent with improved HealthTech portfolio, despite weakness in Lighting. The company also maintained its outlook for fiscal 2016. Jeff Bezos, the CEO of Amazon, has overtaken Berkshire Hathaway's founder Warren Buffet to become the third-richest person in the world, according to the Bloomberg Billionaires Index. Bezos is now behind clothing retailer Zara's founder Amancio Ortega, who is now second, and Bill Gates, co-founder...
comments powered by Disqus
Follow RTT