Radware Announces Changes to Its Board of Directors
Radware (NASDAQ: RDWR) announced the appointment of Mr. Stanley B. Stern and Ms. Naama Zeldis as independent directors, effective until the 2020 annual meeting. Mr. Stern, with over 30 years in finance and technology, and Ms. Zeldis, with extensive operational experience, aim to enhance Radware's strategic growth. Meanwhile, Mr. Avraham Asheri is stepping down for health reasons after 11 years, and Mr. Joel Maryles resigns after 6.5 years to focus on other interests. The company appreciates their contributions and looks forward to the new board members' insights.
- Appointment of experienced directors enhances strategic perspective.
- Mr. Stern's extensive finance and M&A expertise beneficial for growth.
- Ms. Zeldis brings strong operational background and financial acumen.
- Departure of Mr. Asheri due to health concerns may affect continuity.
- Mr. Maryles' resignation could lead to experience gaps on the board.
TEL AVIV, Israel, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced that its board of directors has appointed Mr. Stanley B. Stern and Ms. Naama Zeldis to serve as independent directors of Radware’s Board of Directors. Mr. Stern and Ms. Zeldis will serve as members of the Board until the Company’s upcoming 2020 annual meeting of shareholders, when their appointments will be up to a shareholder vote.
“Both new board members bring a wealth of experience, talent, and energy to Radware’s board,” said Mr. Yehuda Zisapel, Chairman of Radware’s Board of Directors. “We are very fortunate to have them by our side. Mr. Stern’s more than 30 years of experience across the financial, M&A and technology sectors, combined with Ms. Zeldis financial acumen and strong operational expertise will add a valuable perspective to our board. We are looking forward to integrating their advice and experience into our strategic plans for growth.”
Mr. Stern is currently the chairman of the board of directors of AudioCodes Ltd. and serves as a member of the boards of directors of Ormat Technologies, Inc., as well as several other companies. In the past, Mr. Stern was a board member of several public and private companies, including Given Imaging Ltd., and the chairman of the board of Tucows, Inc. and of SodaStream International Ltd., where he served as chairman of the board of directors from 2015 to 2018 until the company was acquired by Pepsico. Previously, Mr. Stern was a Managing Director at Oppenheimer & Co. from 1995-2000 and from 2004 to 2013, where, among other positions, he led the firm's investment banking department and technology investment banking groups. Mr. Stern holds a B.A. degree in economics and accounting from City University of New York, Queens College, and an M.B.A. from Harvard University.
Ms. Zeldis currently serves as the CEO of Aquarius-Spectrum Ltd. and is also currently serving as a member of the board of directors of Orbit Technologies Ltd. Ms. Zeldis has also served as a member of the boards of directors of several other companies that are at the forefront of the Israeli industry, including Metalink Ltd., Nova Measuring Instruments Ltd., and Rafael Advanced Defense Systems Ltd. . Formerly, Ms. Zeldis has also served as CFO for a variety of leading high-tech and industrial companies such as Tahal Group, Netafim, and Electronic Data Systems. She holds a B.A. degree in accounting from the Tel Aviv University and a B.A. degree in economics and an M.B.A from the Hebrew University in Jerusalem.
Additionally, Mr. Avraham Asheri and Mr. Joel Maryles are stepping down from Radware’s Board. Mr. Asheri is stepping down for medical reasons after serving on the Radware board for 11 years, and Mr. Maryles has stepped down after serving 6.5 years on the Radware board and will dedicate more time to his other business and philanthropic interests.
Mr. Zisapel added, “We wish to take this opportunity to thank Mr. Maryles and Mr. Asheri for their contributions to Radware. We are thankful for their dedication and acumen and the knowledge they brought to Radware throughout the years and wish them well in the future.”
ABOUT RADWARE
Radware® (NASDAQ: RDWR), is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection and availability services to enterprises globally. Radware’s solutions empower more than 12,500 enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity and achieve maximum productivity while keeping costs down. For more information, please visit www.radware.com.
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This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could.” Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions and volatility of the market for our products; natural disasters and public health crises, such as the coronavirus disease 2019 (COVID-19) pandemic; our ability to expand our operations effectively; timely availability and customer acceptance of our new and existing solutions; risks and uncertainties relating to acquisitions or other investments; the impact of economic and political uncertainties and weaknesses in various regions of the world, including the commencement or escalation of hostilities or acts of terrorism; intense competition in the market for cyber security and application delivery solutions and in our industry in general and changes in the competitive landscape; changes in government regulation; outages, interruptions or delays in hosting services or our internal network system; compliance with open source and third-party licenses; the risk that our intangible assets or goodwill may become impaired; our dependence on independent distributors to sell our products; long sales cycles for our solutions; changes in foreign currency exchange rates; undetected defects or errors in our products or a failure of our products to protect against malicious attacks; the availability of components and manufacturing capacity; the ability of vendors to provide our hardware platforms and components for our main accessories; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; changes in tax laws; our ability to realize our investment objectives for our cash and liquid investments; our ability to attract, train and retain highly qualified personnel; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC) and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.
Media Contacts:
Deborah Szajngarten
Radware
201-785-3206
deborah.szajngarten@radware.com
Investor Relations:
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ir@radware.com
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