ROSH
HA'AIN, Israel,
July 31,
2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ:
CRNT), the global innovator and leading solutions provider of 5G
wireless transport, today announced that on July 24, 2023 the Board of Directors named
Ilan Rosen, a member of the Board of
Directors since July 2021, as its new
Chairman. Mr. Rosen succeeds Zohar Zisapel, who sadly passed away
on May 19, 2023.
Mr. Rosen has significant expertise in concluding successful
mergers and acquisitions, deploying value-creation strategies, and
enhancing corporate governance. He also has significant experience
in the telecommunications industry. Mr. Rosen currently serves as
Managing Director in HarbourVest Partners LLC, a global private
equity firm with more than 1,000 employees that manages
approximately $100 billion worth of
investments in various private equity strategies around the globe.
From 1997-2012 Mr. Rosen served as Chairman of the Board of Tdsoft
LTD which later merged into VocalTec. In the years 1996-2003 Mr.
Rosen served as VP of Investments at Teledata Communications, where
he was an active Chairman of various Teledata Subsidiaries. From
1993-1996 he served as the CEO of Adsha Development Ltd. Mr. Rosen
holds a B.Sc. (cum laude) in Mechanical Engineering from
Tel Aviv University in 1979 and an MBA
from Tel Aviv University in 1986.
"I will strive to honor the legacy of Zohar Zisapel and help
Ceragon reach the next stage of its evolution as an industry leader
creating value in large and growing markets," commented Mr. Rosen.
"This is an exciting time for Ceragon, and I believe we have the
right team in place, with significant telecommunications and
technology expertise from the Board level down, to enable us to
capture market share, expand market penetration and create
long-term shareholder value."
Doron Arazi, Ceragon CEO,
commented, "I am confident that Ilan will provide invaluable
counsel to management and help us execute on our ambitious plans.
Ilan has always been a voice representing the best interests of
shareholders and he brings significant experience in managing
growth organizations. I believe this expertise can be extremely
helpful to us in executing on our strategic goals."
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and
leading solutions provider of 5G wireless transport. We help
operators and other service providers worldwide increase
operational efficiency and enhance end customers' quality of
experience with innovative wireless backhaul and fronthaul
solutions. Our customers include service providers, public safety
organizations, government agencies and utility companies, which use
our solutions to deliver 5G & 4G broadband wireless
connectivity, mission-critical multimedia services, stabilized
communications, and other applications at high reliability and
speed.
Ceragon's unique multicore technology and disaggregated approach
to wireless transport provides highly reliable, fast to deploy,
high-capacity wireless transport for 5G and 4G networks with
minimal use of spectrum, power, real estate, and labor resources.
It enables increased productivity, as well as simple and quick
network modernization, positioning Ceragon as a leading solutions
provider for the 5G era. We deliver a complete portfolio of turnkey
end-to-end AI-based managed and professional services that ensure
efficient network rollout and optimization to achieve the highest
value for our customers. Our solutions are deployed by more than
600 service providers, as well as more than 1,600 private network
owners, in more than 130 countries. For more information please
visit: www.ceragon.com
Ceragon Networks® and FibeAir® are registered trademarks of
Ceragon Networks Ltd. in the United
States and other countries. CERAGON ® is a trademark of
Ceragon Networks Ltd., registered in various countries. Other names
mentioned are owned by their respective holders.
Safe Harbor
This press release contains statements that constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933, as amended and the Securities Exchange Act of 1934, as
amended, and the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
based on the current beliefs, expectations and assumptions of
Ceragon's management about Ceragon's business, financial condition,
results of operations, micro and macro market trends and other
issues addressed or reflected therein. Examples of forward-looking
statements include, but are not limited to, statements regarding:
projections of demand, revenues, net income, gross margin, capital
expenditures and liquidity, competitive pressures, order timing,
supply chain and shipping, components availability, growth
prospects, product development, financial resources, cost savings
and other financial and market matters. You may identify these and
other forward-looking statements by the use of words such as "may",
"plans", "anticipates", "believes", "estimates", "targets",
"expects", "intends", "potential" or the negative of such terms, or
other comparable terminology, although not all forward-looking
statements contain these identifying words.
Although we believe that the projections reflected in such
forward-looking statements are based upon reasonable assumptions,
we can give no assurance that our expectations will be obtained or
that any deviations therefrom will not be material. Such
forward-looking statements involve known and unknown risks and
uncertainties that may cause Ceragon's future results or
performance to differ materially from those anticipated, expressed
or implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to: the effects of
global economic trends, including recession, rising inflation,
rising interest rates, commodity price increases and fluctuations,
commodity shortages and exposure to economic slowdown; risks
associated with delays in the transition to 5G technologies and in
the 5G rollout; risks relating to the concentration of our business
on a limited number of large mobile operators and the fact that the
significant weight of their ordering, compared to the overall
ordering by other customers, coupled with inconsistent ordering
patterns, could negatively affect us; risks resulting from the
volatility in our revenues, margins and working capital needs,
substantial losses incurred and negative cash flows generated,
which, if continue, may significantly adversely impact our results
of operations and cash flow; the high volatility in the supply
needs of our customers, which from time to time lead to delivery
issues and may lead to us being unable to timely fulfill our
customer commitments; risks associated with inaccurate forecasts or
business changes, which may expose us to inventory-related losses
on inventory purchased by our contract manufacturers and other
suppliers, to increased expenses should unexpected production ramp
up be required, or to write off to parts of our inventory, which
would increase our cost of revenues; and such other risks,
uncertainties and other factors that could affect our results of
operation, as further detailed in Ceragon's most recent Annual
Report on Form 20-F, as published on May 1,
2023, and in Ceragon's other filings with the Securities and
Exchange Commission.
We caution you not to place undue reliance on forward-looking
statements, which speak only as of the date hereof. Ceragon does
not assume any obligation to update any forward-looking statements
in order to reflect events or circumstances that may arise after
the date of this release unless required by law.
Ceragon's public filings are available on the Securities and
Exchange Commission's website at www.sec.gov and may also be
obtained from Ceragon's website at www.ceragon.com.
Investor & Media Contact:
Rob Fink or Bob Meyers
FNK IR
Tel. 1+646-809-4048
crnt@fnkir.com
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SOURCE Ceragon Networks Ltd.