Business
Doron Arazi to Succeed Ira Palti as CEO of Ceragon Networks
Palti will transfer his post to Arazi, the Company's former deputy CEO & CFO, beginning of July 2021 LITTLE FALLS, N.J., April 12, 2021 /PRNewswire/ --
About this update from Ceragon Networks Ltd.
[{"type":"text","content":"Palti will transfer his post to Arazi, the Company's former deputy CEO & CFO, beginning of July 2021\n\n\n LITTLE FALLS, N.J., April 12, 2021 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global leader in wireless hauling solutions, announced today that its Board of Directors has appointed Doron Arazi, an industry-leading executive and the Company's former deputy CEO & CFO, as its Chief Executive Officer from beginning of July 2021. Doron Arazi will be succeeding CEO Ira Palti, effective on the same date. Ira Palti will remain on the Board of Directors of Ceragon and will be appointed as Vice Chairman.\nUnder President & CEO Ira Palti, Ceragon's solutions have earned an unblemished record on network performance. Palti's sixteen years at Ceragon have seen the Company leverage the wireless transitions from 3G to 5G, establishing the Company as a global leader.\nIncoming CEO Doron Arazi is no stranger to this evolution – between 2016 and 2019, he served as the Company's Deputy CEO. During this time, Arazi led the activities of the APAC and India regions which accounted for over 50% of the annual revenue. He worked to bring new organizational changes and business models into effect, increasing profitability as well as the regional revenue – from $110M in 2016 to $179M in 2018. \nBetween October 2014 and March 2019, in his CFO capacity, Arazi became intimately familiar with the financial particulars of Ceragon. He was successful in moving the Company from losses and negative cash flow to significant profits and positive cash flow. Within two years, he reduced the Company's debt to its bank consortium from over $50M to 0, and rebuilt trust with vendors, banks, and the investors community. Arazi's previous roles at other companies include executive and finance leadership positions at Amdocs, Allot, and Verint Systems. \n\"Today, with Ira's leadership over the years, Ceragon is at the meeting point of two high tides – global brand strength, driven by indisputable technology superiority, and the unfolding 5G evolution worldwide. It's an honor to rejoin the Ceragon family as CEO at this momentous time,\" said Doron Arazi. \"I've been proud to be connected to Ceragon through my previous roles. I look forward to building a stronger company and seizing new opportunities ahead.\"\nIra Palti commented, \"I have no doubt that under ...