NEW YORK -- Comverse Technology, Inc. (NASDAQ: CMVT) today announced changes to its senior management team and Board of Directors. The following changes are effective immediately:
Ron Hiram, an independent director of the Company since 2001, has been named non-executive Chairman of the Board of Directors.
Raz Alon, an independent director since 2003, has been named interim Chief Executive Officer.
Avi T. Aronovitz, currently Vice President of Finance and Treasurer of the Company, has been appointed interim Chief Financial Officer.
Paul L. Robinson, currently Vice President of Legal and General Counsel, will assume the role of Executive Vice President, Chief Administrative Officer, General Counsel, and Corporate Secretary.
These changes come following the resignations of Kobi Alexander, former Chairman and CEO, David Kreinberg, former CFO, and William F. Sorin, a former director, Senior General Counsel, and Corporate Secretary. Mr. Alexander, Mr. Kreinberg and Mr. Sorin will become advisors to the Company on an interim basis. They will cooperate with the special committee of the Board of Directors in its previously announced review relating to the Company’s stock option grants and help ensure a smooth transition for the Company’s senior management.
“We wish to acknowledge the past contributions of Mr. Alexander. He was the Company’s founder and a visionary leader. We also acknowledge the work of Messrs. Kreinberg and Sorin in assisting Mr. Alexander in developing Comverse into the strong market and technology leader it is today,” said Ron Hiram.
“We are confident that our major markets have excellent long-term prospects, and our management team has the experience and depth to continue to deliver outstanding growth and operational performance,” said Raz Alon. “We remain focused on providing our customers with innovative technology and outstanding service, and we are committed to strengthening our leadership position in each of our businesses.”
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