Yoav_Chelouche6Yoav Chelouche has announced his resignation as president and CEO of Scitex (Nasdaq: SCIX). His resignation will take effect on September 1, but he will continue to advise Scitex until the middle of 2002.


Chelouche has been appointed Managing Partner of Fantine Capital Europe One.


To see the Yediot newspaper article, click here for Hebrew.


Yoav Chelouche was appointed president and CEO of Scitex Corporation in 1995 after he had served in different executive management positions since joining the company in 1979. During this period, the Scitex Graphic Arts Group has been sold to Creo. Scitex shares have been trading sideways and recently dropped below $6 a share, the lowest point in more than a decade.




Meir Shannie, the Chairman of the Scitex Board of Directors, commented, “Yoav’s vision and leadership guided the Company through times of change and great challenges. During the past six years Yoav has been building Scitex and its management team to lead the market in inkjet based technology solutions.”


Shannie continued, “Through Yoav’s tenure, Scitex transitioned from its historic digital preprint business to be focused on digital printing. Scitex is recognized for its cutting-edge inkjet technologies and its group of companies covering a wide gamut of applications and solutions. The value in these assets will be recognized over time. Yoav has been invaluable in positioning Scitex and overseeing these major strategic steps.”


Published at www.exscite.net


source: Israel’s Business Arena at the Globe on August 7, 2001