Gilat Satellite Networks Ltd. has announced that beginning January 1, 2005, the Company will operate under two business units: Gilat Network Solutions (GNS) and Gilat Network Operations (GNO). The Company’s 2004 financial statements will reflect this change.
This division is part of the Company’s new growth strategy aiming to increase sales for solution driven markets as well as the expansion of its operation business.
The Company also announced that a special general meeting of shareholders will be held on February 3, 2005 at 10.00 AM, Israel local time. Among the issues to be voted on at the meeting, will be the election of Mr. Haim Benjamini as an external director to serve on the Company’s Board of Directors.
Mr. Benjamini is expected to replace Mr. David Milgrom who announced that he ceased to serve as external director of Gilat so as to avoid any future potential conflicts of interest that may arise in his position as external director and his service as Chief Executive Officer of B.S.S.CH. – The Israel Credit Insurance Company Ltd.
Mr. Milgrom explained that B.S.S.CH. has recently entered into the area of short and medium term credit insurances of above one year and such credit facilities could have future relevance to Gilat.
Mr. Haim Benjamini currently serves as the Corporate Vice President of Human Resources of Teva Pharmaceutical Industries Ltd.
