Shamir Optical Industry Ltd Appoints Yagen Moshe Chief Financial Officer
June 06 2006 - 8:00AM
PR Newswire (US)
KIBBUTZ SHAMIR, Israel, June 6 /PRNewswire/ -- Shamir Optical
Industry Ltd (NASDAQ:SHMR), a leading provider of innovative
products and technology to the progressive ophthalmic lens market,
today announced that it has appointed Yagen Moshe as its chief
financial officer. Mr. Moshe, who currently serves as Shamir's vice
president of finance, replaces Mr. Amir Hai as chief financial
officer, who has resigned to pursue other interests. Mr. Hai will
continue to serve the Company's interests, if needed, in the near
term. The appointment is effective as of July 1, 2006. Mr. Moshe
joined Shamir in February 2005. Prior to Shamir, he held various
financial positions, including senior manager at Ernest &
Young. Most recently he served as CFO at Comsec Ltd, a Petach Tikva
based information security firm. "We are delighted that Yagen has
agreed to serve as Shamir's new chief financial officer. His
experience in financial reporting will enhance our team and provide
strong continuity during this transition. Over the last year and a
half, Yagen has proven himself an invaluable member of our finance
efforts. His intimate knowledge of Shamir will help support our
continuing efforts to expand our footprint worldwide," said Mr.
Giora Ben-Zeev, Shamir's president and chief executive officer. Mr.
Ben-Zeev added, "We would also like to thank Mr. Amir Hai for his
significant contributions to Shamir during his seven years with the
Company. We greatly appreciate his efforts, especially his guidance
through last year's IPO and listing on NASDAQ. We wish him well in
his future endeavors." Mr. Moshe holds a BA degree in accounting
and management from The College of Management in Tel-Aviv, a master
in law from the Bar-Ilan University in Ramat-Gan, and is a
qualified CPA. About Shamir Shamir is a leading provider of
innovative products and technology to the progressive spectacle
lens market. Utilizing its proprietary technology, the company
develops, designs, manufactures, and markets progressive lenses to
sell to the ophthalmic market. In addition, Shamir utilizes its
technology to provide design services to optical lens manufacturers
under service and royalty agreements. Progressive lenses are used
to treat presbyopia, a vision condition where the eye loses its
ability to focus on close objects. Progressive lenses combine
several optical strengths into a single lens to provide a gradual
and seamless transition from near to intermediate, to distant
vision. Shamir differentiates its products from its competitors'
primarily through lens design. Shamir's leading lenses are marketed
under a variety of trade names, including Shamir Genesis(TM),
Shamir Piccolo(TM), Shamir Office(TM), and Shamir Autograph(TM).
Shamir believes that it has one of the world's preeminent research
and development teams for progressive lenses, molds, and
complementary technologies and tools. Shamir developed software
dedicated to the design of progressive lenses. This software is
based on Shamir's proprietary mathematical algorithms that optimize
designs of progressive lenses for a variety of activities and
environments. Shamir also has created software tools specifically
designed for research and development and production requirements,
including Eye Point Technology software, which simulates human
vision. Safe Harbor Statement This press release does not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of, any securities described herein in
any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state. Statements concerning Shamir's
business outlook or future economic performance; product
introductions and plans and objectives related thereto; and
statements concerning assumptions made or expectations as to any
future events, conditions, performance or other matters, are
"forward-looking statements" as that term is defined under U.S.
federal securities laws. Forward-looking statements are subject to
various risks, uncertainties and other factors that could cause
actual results to differ materially from those stated in such
statements. These risks, uncertainties and factors include, but are
not limited to: the effect of global economic conditions in general
and conditions in Shamir's industry and target markets in
particular; shifts in supply and demand; market acceptance of new
products and continuing products' demand; the impact of competitive
products and pricing on Shamir's and its customers' products and
markets; timely product and technology development/upgrades and the
ability to manage changes in market conditions as needed; possible
business disruptions from acquisitions; and other factors detailed
in Shamir's filings with the Securities and Exchange Commission.
Shamir assumes no obligation to update the information in this
release. FOR ADDITIONAL INFORMATION CONTACT Investor Relations
Contacts: Jeffrey Goldberger / Marybeth Csaby Roni Gavrielov / Asaf
Porat KCSA Worldwide KM / KCSA Investor Relations 212-896-1249 /
212-896-1236 +972-3-516-7620 / / DATASOURCE: Shamir CONTACT:
Investor Relations Contacts: Jeffrey Goldberger, +1-212-896-1249, ,
or Marybeth Csaby, +1-212-896-1236, , both of KCSA Worldwide; Roni
Gavrielov, , or Asaf Porat, , both of KM / KCSA Investor Relations,
+972-3-516-7620
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