RADA Electronic Industries Ltd. Announces Departure of Mr. Haim Regev as a Director

Rhea-AI Summary

On August 16, 2021, RADA Electronic Industries Ltd. (NASDAQ: RADA, TASE: RADA) announced the resignation of board member Haim Regev, who is now the Israeli Ambassador to the EU and NATO forces. Regev has been with RADA since May 2019. The company expressed gratitude for his service. RADA specializes in advanced software-defined tactical radars, focusing on markets such as military protection and border surveillance.

Positive

• Haim Regev served on the board since May 2019, indicating continuity in governance until his resignation.

Negative

• The resignation of a board member may create uncertainty regarding future strategic direction.

NETANYA, Israel, Aug. 16, 2021 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ: RADA, TASE: RADA), a leading global provider of advanced software-defined tactical radars for the maneuver force (“RADA” or the “Company”), announced that it has been notified by Mr. Haim Regev that he is resigning as a member of the Board of Directors of the Company due to his nomination to serve as the Israeli Ambassador to the EU and the NATO forces effective August 15, 2021. Mr. Regev has served as a director of the Company since May 2019.  The Company thanks Mr. Regev for his service as a member of its Board of Directors and wishes him much success in his new position.

About RADA Electronic Industries Ltd.

RADA is a global defense technology company focused on proprietary radar solutions and legacy avionics systems. The Company is a leader in mini-tactical radars, serving attractive, high-growth markets, including active military protection, counter-UAS, critical infrastructure protection and border surveillance.

Contacts for RADA:

Company Contact: Avi Israel (CFO) Tel: +972 76538 6200 mrkt@rada.com www.rada.com

IR Contact GK Investor Relations Ehud Helft, Partner Tel: 1 617 318 3096 rada@gkir.com

 

FAQ

What prompted Haim Regev's resignation from RADA's Board of Directors?

Haim Regev resigned to serve as the Israeli Ambassador to the EU and NATO effective August 15, 2021.

How long did Haim Regev serve on RADA's Board of Directors?

Haim Regev served on RADA's Board of Directors since May 2019.

What is RADA Electronic Industries Ltd. known for?

RADA is known for providing advanced software-defined tactical radars for military applications.

What markets does RADA focus on?

RADA focuses on active military protection, counter-UAS, critical infrastructure protection, and border surveillance.