Andrei Elefant will be stepping down as president and CEO of Allot Communications, but will remain with the company, serving as chief strategy officer.
Allot has hired Erez Antebi to succeed Elefant.
Elefant had held the top post at Allot Ltd. (Nasdaq: ALLT) since being promoted from vice president of product management and marketing in 2014. During his tenure the company repositioned itself. At the point when he took over, the company had billed itself as a specialist in service optimization and revenue generation solutions; it now emphasizes security and monetization. Allot will continue to pursue those directions, according to the board.
Meanwhile Allot has been losing money and its stock has suffered for it. It spiked to a ten-year high of $28.86 in May 2012, after which it kept declining until finding a plateau around $5.15, where it has hovered the last six months or so.
Antebi's most recent gig was at Gilat Satellite Networks Ltd. (Nasdaq: GILT), where he had been CEO for three years until stepping down in March 2015. Upon his departure, Gilat's board credited him with successfully moving the company into new product lines while streamlining operations and reducing costs.
In other words, he has experience preparing a company for a return to profitability.
Yigal Jacoby, Allot's chairman of the board, said in a statement, "Mr. Antebi brings his vast experience, management and business skills in domains that are similar to Allot's business market."
The executive change will be effective Feb. 1.
Separately, Allot announced that Israeli Internet and cloud services provider Triple C has deployed Allot WebSafe Personal. Triple C will use the system to provide security-as-a-service to both consumers and businesses.
Allot describes WebSafe Personal as a multi-tenant solution built for rapid rollout of personalized anti-malware and parental control services that safeguard customers, increase brand loyalty and generate incremental revenue. The company said it already protects over 15 million users globally.
— Brian Santo, Senior Editor, Components, T&M, Light Reading