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Gilat Announces Structural Organizational Changes to Support Key Strategic OpportunitiesOctober 12, 2015 Gilat Satellite Networks Ltd. announced it is streamlining its organization to better benefit from significant growth opportunities in the market. Dov Baharav, Chairman and interim CEO of Gilat said: “We are witnessing several trends in the industry accelerate, including: a shift to High Throughput Satellites (HTS), enhanced need for comprehensive services and turnkey solutions, the growth of Rural Broadband Internet (as was just demonstrated by Facebook’s new initiative for Africa), deployment of HTS satellite communication in China, and in-flight connectivity (IFC). Therefore we are shifting focus to better support the following growth drivers:
In order to take full advantage of the above Gilat has adjusted its organization. First, our Commercial division will continue focusing on the HTS market, while driving broader solutions, enhancing our offering to combine technology and services. Secondly, our Strategic Initiatives Division will encompass our IFC activity, Wavestream, Defense and the Chinese market, which will be addressed with a special focus. "These adjustments will also result in several changes to our management team and structure," Dov Baharav continued. "In addition, our CFO, Yuval Ronen, has decided to leave Gilat. He will be replaced by Adi Sfadia, who will be joining us on December 1st 2015. Adi will be joining after serving as CFO of Starhome-Mach and previously as CFO of Radvision (NASDAQ: RVSN). He has also spent five years with Ernst & Young. I would like to thank Yuval for his contribution to Gilat during his term,” added Dov Baharav. “With the structural change and our promising strategic opportunities, I am confident we will achieve profitable growth in 2016 and beyond, making Gilat the global leader of satellite networks solutions and the partner of choice for large complex projects for Satellite Operators, Telcos, and other large enterprises,” concluded Dov.
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