IAI’s Joseph Weiss To Step Down As CEO After Six Years In Charge

As he approaches six years as President and CEO of Israel Aerospace Industries (IAI) and retirement age, and following an extended sequence of managerial positions held at IAI throughout greater than 20 years, Joseph Weiss has knowledgeable the Firm’s board of administrators of his determination to step down from his place after a brand new CEO is recognized and an orderly succession course of has taken place.

Weiss was named President and CEO of IAI, Israel’s largest Aerospace Company in 2012. Throughout his tenure, he has led the corporate to many accomplishments, primarily via the rise within the variety of new contracts signed throughout the globe to unprecedented document of U.S.$5.5 billion in contracts previously 12 months and all-time document order backlog of over U.S.$11 billion.

Mr. Weiss thanked the previous and current chairmen and members of the board for trusting him to information IAI to important enterprise growth, opening of recent markets, and aligning enormous world contracts in face of fierce competitors with multinational giants and for taking it to uncommon technological heights. Throughout Mr. Weiss’ time period, IAI has additionally turn into Israel’s largest excessive tech company. These accomplishments come along with implementing a far reaching progress plan that features streamlining, payroll reductions, and refining the enterprise focus.

“I finish my time period because the CEO of Israel’s largest protection firm, which can also be the nation’s largest excessive tech firm, in a 12 months which is without doubt one of the most profitable and turbulent in its historical past. The achievements of the previous 12 months enable IAI to begin the approaching decade effectively ready for world competitors and extremely esteemed as an progressive and main know-how firm. I’m proud to go away behind me strong technological and enterprise infrastructure and company tradition aligned with the evolving aggressive local weather. This infrastructure includes our biggest asset: human capital of workers and executives. It’s with nice delight and satisfaction that I hand over the helm to the following era of gifted managers. I’m assured they may take IAI even farther, protect and develop its enormous contribution to Israel’s safety and financial system,” stated Weiss.

A search committee will probably be established inside the subsequent few weeks to pick out a brand new CEO for IAI. Mr. Weiss has agreed with the chairman of the board, Harel Locker, that he’ll stay on the helm till a brand new CEO is appointed, and so long as vital to make sure a easy transition in all features of the Firm’s a number of and diversified operations.

Harel Locker, IAI’s chairman stated, “Reaching retirement age is a significant milestone in everybody’s life, and much more so whenever you assume accountability of the scope Joseph Weiss had. On behalf of the board of administrators and all the corporate, I wish to thank Joseph for six very important years as President and CEO of Israel’s main protection and technological firm, and for 20 years of excellent profession at IAI. He has skillfully navigated the complicated operations of IAI in face of big challenges. IAI’s accomplishments underneath Weiss’s management are spectacular by any customary and its large contribution to Israel’s safety and financial system has grown considerably. We’ll proceed to stroll the street outlined by Weiss in order to safe the Firm’s foothold within the world markets and its continued progress.”