Check Point Software Technologies Ltd. (Nasdaq: CHKP) has hired Tal Payne as its new CFO effective in mid-2008. Payne, who has been CFO of Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) for the past three years, will replace Eyal Desheh, who has been CFO for eight years and is going to Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) to replace Dan Suesskind.
Check Point CEO Gil Shwed said, "Ms. Payne’s financial leadership experience with a successful global public company makes her the ideal candidate to help us lead our business into the next phase of growth."
For its part, Gilat has not announced Payne's successor. Gilat chairman and CEO Amiram Levinberg said, “Since Tal became Gilat’s CFO the company has experienced improvement in all key financial indicators, including an increase in revenues from $209 million in 2005 to $283 million in 2007, while showing significant improvement in profitability and cash balances. We think highly of Tal’s professional capabilities and leadership, and regret to see her leave Gilat."
Check Point fell 0.4% on Nasdaq yesterday and a further 0.4% in after-hours trading to $46.02, giving a market cap of $5.3 billion. Gilat rose 5.6% on Nasdaq yesterday to $9.99 giving a market cap of $375 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 26, 2008
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