BluePhoenix Solutions (Nasdaq: BPHX), the leader in value-driven legacy IT modernization solutions, today announced that Arik Kilman was appointed Chief Executive Officer replacing Yaron Tchwella who is leaving the position of Chief Executive Officer for personal reasons. Mr. Tchwella was nominated by the Board of Directors to serve as a Director. If approved by the Company’s shareholders at the shareholders meeting which is expected to be held prior to the end of June 2010, Yaron will join the board and will serve as an executive focused on growing the Company’s partner network and on strategic customers. Gur Shomron, a member of the Board of Directors was appointed to replace Mr. Kilman as Chairman of the Board.
“I return to lead BluePhoenix as CEO at a time when I am increasingly excited about our future,” said Mr. Kilman. “The prospects for our solutions continue to grow and we strongly believe that now is the right time for legacy modernization. The market opportunity ahead of us is growing, we own an ever-improving business proposition for our customers and our reputation within the industry is unmatched.”
About BluePhoenix Solutions
BluePhoenix Solutions (NASDAQ: BPHX) is the leading provider of value-driven legacy IT modernization solutions. The BluePhoenix portfolio includes a comprehensive suite of tools and services from global IT asset assessment and impact analysis to automated database and application migration, rehosting, and renewal. Leveraging over 20 years of best-practice domain expertise, BluePhoenix works closely with its customers to ascertain which assets should be migrated, redeveloped, or wrapped for reuse as services or business processes, to protect and increase the value of their business applications and legacy systems with minimized risk and downtime.BluePhoenix provides modernization solutions to companies from diverse industries and vertical markets such as automotive, banking and financial services, insurance, manufacturing, and retail. Among its prestigious customers are: Aflac, Capita Group, CareFirst, Citigroup, Danish Commerce and Companies Agency, Desjardins, Los Angeles County Employees Retirement Association, Rabobank, Rural Servicios Informaticos, SDC Udvikling, TEMENOS, Toyota, and Volvofinans. BluePhoenix has 13 offices in the USA, UK, Denmark, Germany, Italy, The Netherlands, Romania, Russia, Cyprus, Australia, and Israel.