Nano Dimension Announces Changes in Board Composition
Nano Dimension (NNDM) announced significant changes to its Board of Directors following the 2024 annual general meeting and a recent Israeli court ruling. The board now consists of four members: Ofir Baharav (appointed as Chairman), Robert Pons, Dr. Joshua Rosensweig (Audit Committee Chairman), and Kenneth Traub. Six previous board members have resigned, including Dr. Yoav Nissan-Cohen and others. The newly reconstituted board expressed commitment to strong corporate governance and maximizing long-term shareholder value.
The changes follow the validation of a previously contested March 2023 extraordinary general meeting (EGM) by an Israeli court ruling, which confirmed the legitimate election of Rosensweig and Traub. Baharav and Pons were elected at the recent AGM, replacing Yoav Stern and Michael X. Garrett.
Nano Dimension (NNDM) ha annunciato cambiamenti significativi nel suo Consiglio di Amministrazione a seguito dell'assemblea generale annuale del 2024 e di una recente sentenza di un tribunale israeliano. Il consiglio è ora composto da quattro membri: Ofir Baharav (nominato Presidente), Robert Pons, Dr. Joshua Rosensweig (Presidente del Comitato di Revisione) e Kenneth Traub. Sei membri precedenti del consiglio si sono dimessi, tra cui il Dr. Yoav Nissan-Cohen e altri. Il nuovo consiglio ricostituito ha espresso il proprio impegno verso una governance aziendale solida e alla massimizzazione del valore a lungo termine per gli azionisti.
Le modifiche seguono la convalida di una precedente assemblea generale straordinaria (EGM) contestata nel marzo 2023 da parte di una sentenza del tribunale israeliano, che ha confermato l'elezione legittima di Rosensweig e Traub. Baharav e Pons sono stati eletti nell'ultima AGM, sostituendo Yoav Stern e Michael X. Garrett.
Nano Dimension (NNDM) anunció cambios significativos en su Junta Directiva tras la reunión general anual de 2024 y un reciente fallo de un tribunal israelí. La junta ahora consta de cuatro miembros: Ofir Baharav (nombrado Presidente), Robert Pons, Dr. Joshua Rosensweig (Presidente del Comité de Auditoría) y Kenneth Traub. Seis miembros anteriores de la junta han renunciado, incluidos el Dr. Yoav Nissan-Cohen y otros. La nueva junta reconstitutiva expresó su compromiso con una sólida gobernanza corporativa y maximizar el valor a largo plazo para los accionistas.
Los cambios siguen a la validación de una reunión general extraordinaria (EGM) del marzo de 2023, previamente disputada, por parte de un fallo de un tribunal israelí, que confirmó la elección legítima de Rosensweig y Traub. Baharav y Pons fueron elegidos en la reciente AGM, reemplazando a Yoav Stern y Michael X. Garrett.
나노 디멘션 (NNDM)은 2024년 정기 주주총회 및 최근 이스라엘 법원의 판결에 따라 이사회에 중대한 변화를 발표했습니다. 새로 구성된 이사회는 오피르 바하라브 (의장으로 임명), 로버트 폰스, 조슈아 로젠슈바이크 박사 (감사위원회 의장), 그리고 케네스 트라우브의 네 명으로 구성되어 있습니다. 여섯 명의 기존 이사들이 사임했으며, 그중에는 요아프 니산-코헨 박사와 기타 인사들이 포함되어 있습니다. 새롭게 구성된 이사회는 강력한 기업 거버넌스와 장기적인 주주 가치를 극대화하겠다는 의지를 표명했습니다.
이 변화는 2023년 3월에 열린 논란이 있던 임시 주주총회(EGM)의 유효성이 이스라엘 법원 판결에 의해 확인된 후 이루어졌으며, 이는 로젠슈바이크와 트라우브의 합법적인 선출을 확인했습니다. 바하라브와 폰스는 최근 AGM에서 요아프 스턴과 마이클 X. 가렛을 대체하여 선출되었습니다.
Nano Dimension (NNDM) a annoncé des changements significatifs dans son Conseil d'Administration suite à l'assemblée générale annuelle de 2024 et à un récent jugement d'un tribunal israélien. Le conseil est désormais composé de quatre membres : Ofir Baharav (nommé Président), Robert Pons, Dr. Joshua Rosensweig (Président du Comité d'Audit) et Kenneth Traub. Six anciens membres du conseil ont démissionné, dont le Dr. Yoav Nissan-Cohen et d'autres. Le nouveau conseil reconstitué a exprimé son engagement en faveur d'une gouvernance d'entreprise solide et de la maximisation de la valeur à long terme pour les actionnaires.
Ces changements font suite à la validation d'une assemblée générale extraordinaire (AGE) contestée en mars 2023 par un jugement d'un tribunal israélien, qui a confirmé l'élection légitime de Rosensweig et Traub. Baharav et Pons ont été élus lors de la récente AGE, remplaçant Yoav Stern et Michael X. Garrett.
Nano Dimension (NNDM) kündigte nach der Jahreshauptversammlung 2024 und einem aktuellen israelischen Gerichtsurteil bedeutende Veränderungen im Aufsichtsrat an. Der Vorstand besteht jetzt aus vier Mitgliedern: Ofir Baharav (zum Vorsitzenden ernannt), Robert Pons, Dr. Joshua Rosensweig (Vorsitzender des Prüfungsausschusses) und Kenneth Traub. Sechs frühere Vorstandsmitglieder haben ihr Mandat niedergelegt, darunter Dr. Yoav Nissan-Cohen und andere. Der neu konstituierte Vorstand bekundete sein Engagement für starke Unternehmensführung und die Maximierung des langfristigen Aktionärswertes.
Die Änderungen folgten der Bestätigung einer zuvor umstrittenen außerordentlichen Hauptversammlung (EGM) im März 2023 durch ein israelisches Gerichtsurteil, das die legitime Wahl von Rosensweig und Traub bestätigte. Baharav und Pons wurden bei der jüngsten AGM gewählt und ersetzten Yoav Stern und Michael X. Garrett.
- Complete board restructuring implemented, resolving previous governance disputes
- New board members bring extensive experience in technology, 3D printing, and corporate governance
- Clear committee structure established with designated chairpersons
- Significant turnover in leadership could lead to temporary strategic uncertainty
- Previous governance disputes and legal proceedings indicate internal corporate conflicts
Waltham, Mass., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano” or the “Company”), a supplier of Additive Manufacturing solutions, today announced changes in the composition of its Board of Directors (the “Board”).
Nano’s Board currently consists of four members: Messrs. Ofir Baharav, Robert Pons, Dr. Joshua Rosensweig and Kenneth Traub. Mr. Baharav has been appointed as Chairman of the Board. Dr. Joshua Rosensweig will serve as the Chairman of the Company’s Audit Committee and Mr. Robert Pons will serve as the Chairman of the Company’s Compensation Committee.
In light of the previously announced results of the Company’s 2024 annual general meeting of shareholders, dated December 6, 2024 (the "AGM") and the previously announced ruling of the Israeli central region district court in Lod, dated November 21, 2024 (the "Court Ruling") regarding Nano’s extraordinary general meeting of shareholders held on March 20, 2023 (the “EGM”), Dr. Yoav Nissan-Cohen, Messrs. Eitan Ben-Eliahu, Oded Gera, Roni Kleinfeld, Chris Moran and Mrs. Georgette Mosbacher have resigned from the Board, effective immediately. Messrs. Baharav and Pons were elected to the Board following the AGM results and replaced the seats formerly occupied by Messrs. Yoav Stern and Michael X. Garrett. Messrs. Rosensweig and Traub were elected to the Board at the EGM, but since the Company had contested the legality of the EGM, they joined the Board immediately after the Court Ruling, which determined, among other matters, that the EGM was duly held and the vote that elected them to the Board was consequently valid.
The Board commented that: “As a newly reconstituted Board, we are committed to strong corporate governance and executing plans to maximize long-term value for shareholders.”
Biographies
Ofir Baharav
Mr. Baharav is a seasoned senior executive with a career spanning more than two decades in product development for the technology and 3D printing sector. In his various executive roles, he has focused on M&A, operational improvements, corporate governance and enhancing shareholder value. Mr. Baharav previously served as Chairman of the Board from 2019 to 2021 and as a director in the Company from 2015 to 2021. Prior to Nano, from 2014 to 2015, Mr. Baharav was the VP of Product Management of Stratasys Ltd.. In 1999, Mr. Baharav founded RelayHealth Corporation and served as their Chief Executive Officer until it was acquired by McKesson Corp. in 2006. Mr. Baharav currently serves as Chief Executive Officer of Maxify Solutions, Inc., which he founded in 2022 to acquire the assets of Breezer Holdings LLC and SimiGon Inc..
Robert (Bob) Pons
Mr. Pons has over four decades of experience as a Chief Executive Officer and senior executive in high growth companies. He brings significant corporate governance expertise, having served on the boards of more than sixteen publicly traded companies. Mr. Pons previously served as the President and the Chief Executive Officer of Spartan Advisors, Inc., a management consulting firm specializing in telecom and technology companies. Prior to that, Mr. Pons served as the Executive Vice President of PTGi-ICS, a wholly owned subsidiary of HC2 Holdings, Inc., a publicly traded holding company operating subsidiaries in infrastructure, telecom, construction, energy, technology, gaming and life sciences. Pons’ public board experience includes roles as Executive Chairman of SeaChange International, Inc. as well as Director at CCUR Holdings, Inc., Alaska Communications, Inc., Inseego Corp. and MRV Communications, Inc..
Dr. Joshua Rosensweig
Dr. Rosensweig has over four decades of experience as a legal professional, with significant experience in corporate governance and enhancing shareholder value as an executive and director at Israel-based public companies. Dr. Rosensweig is the founder and senior partner of Rosensweig & Co., a boutique law firm based in Tel Aviv. Between 2012 and 2013, Dr. Rosensweig was head of the tax department at Agmon & Co., and from 1999 until 2005, he served as a senior partner at Gornitzky & Co., where he led the international transactions and taxation practices. Since 2017, Dr. Rosensweig has been serving as a member of the board of directors of Israel Corporation. Previously, Dr. Rosensweig served on the board of directors of Bezeq Israel Telecommunication Corp. from 2010 until 2018. Additionally, Rosensweig served on the board of Alrov Properties and Lodgings Ltd. from 2010 until 2018 and has held leadership positions as Chairman of the board of directors of First International Bank of Israel from 2003 until 2006 and of Poalim IBI in 2013.
Kenneth H. Traub
Mr. Traub is a visionary and transformational corporate leader with a successful track record of building sustainable shareholder value. Mr. Traub has over 30 years of experience as a Chairman, Chief Executive Officer, director and active investor with a demonstrated record of accomplishment in driving strategic, financial, operational and governance improvements. Mr. Traub currently serves as the Executive Chairman of Comtech Telecommunications Corp, non-executive Chairman of Edgio, Inc, and Chairman of the Nominating and Governance Committee of the board of directors of Tidewater, Inc. Mr. Traub also served as the Managing Partner of Delta Value Advisors, a strategic consulting and investment advisory firm specializing in corporate governance and turnarounds, since 2019. Mr. Traub previously served as an independent director on the board of directors of numerous public companies, including DSP Group, Inc., an Israeli based manufacturer of multimedia chipsets for converged communications; MRV Communications, Inc., a telecommunications company with principal manufacturing facilities in Israel; Vitesse Semiconductor, Inc., a fabless semiconductor developer; Xyratex Ltd, a data storage company; MIPS Technologies, Inc., a semiconductor technology company; Intermolecular, Inc., a semiconductor materials supplier; and Phoenix Technologies, Inc., a leading supplier of firmware for computers, among others. Mr. Traub received the NACD Directorship Certification, which is awarded to directors who meet the highest standards of corporate governance according to the National Association of Corporate Directors. Mr. Traub received a BA from Emory College in 1983 and an MBA from Harvard Business School in 1988.
About Nano Dimension Ltd.
Nano Dimension (Nasdaq: NNDM) offers a variety of Digital Manufacturing technologies serving customers across vertical target markets such as aerospace and defense, advanced automotive, high-tech industrial, specialty medical technology, R&D and academia.
With its suite of digital manufacturing technologies, Nano Dimension is enabling its customers with prototyping and high-mix-low-volume production, along with IP security, design-for-manufacturing capabilities, and more sustainable means of fabrication.
For more information, please visit https://www.nano-di.com/
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For example, Nano is using forward-looking statements in this press release when it discusses executing plans to maximize long-term value for shareholders. Such forward-looking statements include statements regarding Nano’s future growth, strategic plan and value to shareholders, and all other statements other than statements of historical fact that address activities, events or developments that Nano intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. When used in this communication, the words “outlook,” “guidance,” “expects,” “believes,” “anticipates,” “should,” “estimates,” “may,” “will,” “intends,” “projects,” “could,” “would,” “estimate,” “potential,” “continue,” “plan,” “target,” or the negative of these words or similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Because such statements deal with future events and are based on the current expectations of Nano, they are subject to various risks and uncertainties. Further, actual results, performance, or achievements of Nano could differ materially from those described in or implied by the statements in this communication. The forward-looking statements contained or implied in this communication are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano’s annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on March 21, 2024, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this communication. Nano is not responsible for the contents of third-party websites.
Nano Dimension Contacts
Investor:
Julien Lederman, VP Corporate Development
ir@nano-di.com
Media:
Kal Goldberg / Bryan Locke / Kelsey Markovich | NanoDimension@fgsglobal.com
FAQ
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