Amdocs Ltd. (NYSE: DOX) president and CEO Dov Baharav will retire in the first quarter of 2011, and he will also resign as company director. He will be replaced by EVP and COO Eli Gelman, who is also a director.
Gelman is also chairman of Retalix Ltd. (Nasdaq: RTLX; TASE: RTLX), and will give up this post, which will be taken over by Retalix director Avi Naor.
Amdocs chairman Bruce Anderson said, "For 20 years at Amdocs, we have had the good fortune of Dov Baharav's leadership as a senior executive and, over the past eight years, as CEO. His contributions to the firm cannot be overstated."
Barahav said, "After 20 years with Amdocs, it is with great pleasure that I will transition my responsibilities over the next several months to an extraordinary leader with whom I have worked closely and in whom I have great confidence. Eli has been a key player in Amdocs' exceptional growth and industry leadership over his career."
Amdocs' share price rose 0.8% on Friday to $27.21, giving a market cap of $5.59 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on September 6, 2010
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