Capsule endoscopy pioneer Given Imaging (Nasdaq: GIVN; TASE: GIVN) today announced the appointment of Nachum (Homi) Shamir as president and CEO, and a member of the board.
Given Imaging founder, president and CEO Gavriel Meron will become executive vice chairman of the board and chairman of the board's executive committee.
In his new post, which continues to be based in Yokneam, Meron will support and monitor the execution of the company's annual plans, while focusing on strategic activities, advancing new products and partnerships and nurturing ongoing relations with the gastro-intestinal (GI) community.
Over the last year, Meron has also served as interim president of the company's US subsidiary, Given Imaging Inc., which is headquartered in Atlanta, Georgia. A search is now underway to fill this position.
Shamir will also be based in Atlanta. The company stated that this move recognized the significance of its US operations.
Given Imaging board chairman Doron Birger said that the new senior management team was "now well-positioned to realize the significant opportunities for our innovative technology creating increased value for our shareholders. Homi Shamir brings a wealth of global management experience including the management of a $700 million global organization and a proven leadership track record that will help drive Given's future growth."
Shamir joins Given Imaging from the Eastman Kodak Co. (NYSE:EK) where, following the sale of Scitex Digital Printing to Eastman Kodak for $250 million in 2004, he served as corporate VP and president of the transaction and industrial solutions group. Shamir continues to serve as a member of the Scitex board of directors.
Gitit Pincas adds:
Are the management changes at Given Imaging due to IDB Holding chairman Nochi Dankner? (IDB Holding Corp. Ltd. (TASE:IDBH) owns 37.2% of the company.)
“An appointment of this kind is always linked to the shareholders. It’s unimaginable that a CEO will be appointed without them being involved,” says Meron. “In any case, I’m flattered that I’m included in this list. The backdrop to the changes is the wish for the company to grow. We now have over $80 million in sales a year, and we want to bring the company to the next level, in line with our work plan. Homi Shamir has proven ability to manage an organization worth hundreds of millions of dollars, and the combination of my vision, future products, and Homi’s strategy will drive the company forward.”
Are you tired?
Meron: “Not at all. I also served as CEO of Given Imaging USA, and of the group as a whole. This is obviously too much. We’re going to hire a manager for the US and the multiplicity of tasks now at the company will be better reflected by expanding management. The wish of the controlling shareholder, Homi, and myself is to bring the company to where we’ve already said we want to go - making it a multibillion dollar company. We all have the same interest.”
Shamir: “Given Imaging grows by 30-40% a year. Gaby [Meron] did outstanding work. I don’t know how he lasted such a long time working 24 hours a day. As I see it, just as Israel has a prime minister and a president, Gaby decided that he wanted to be president.”
You gave up a global career at Kodak.
“Given Imaging is an incredible opportunity. It’s interesting to manage a company with $1 billion in sales, but it’s a lot more fun to bring a company with 40% annual growth to that level.”
Published by Globes [online], Israel business news - www.globes.co.il - on April 4, 2006
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