Business integration software company Magic Software Enterprises Ltd. (Nasdaq: MGIC; TASE: MGIC) is the latest Israeli high-tech company to undergo a change in CFO, after Ness Technologies Ltd. (Nasdaq: NSTC), Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR), NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE), and ECI Telecom Ltd. (Nasdaq: ECIL). Magic announced last Thursday that David Zigdon would replace Ziv Zviel on October 1.
Magic recently appointed former ECtel CEO Eitan Naor as its new president and CEO. Naor replaced company chairman David Assia, who served as acting CEO until a permanent appointment was made.
Zigdon previously worked at micro-electric technology start-up Power Paper Ltd.. Before that he served as CFO for six years at Radcom Ltd. (Nasdaq: RDCM; TASE:RDCM).
Naor said, "David brings to Magic Software extensive and diverse financial leadership experience. He will play a key role in the continued implementation of our long-term strategic and financial goals. I am delighted to welcome David and I'm confident that he will prove to be very instrumental to our company."
Magic currently has a market cap of $73 million.
Published by Globes [online], Israel business news - www.globes.co.il - on July 29, 2007
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