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BluePhoenix Announces Changes To Board Of Directors

Stocks in this article: BPHX

BluePhoenix Solutions (NASDAQ: BPHX), the leading provider of value-driven legacy IT modernization solutions, today announced that Mr. Doron Elhanani has been appointed to the Board of Directors of the Company.

Mr. Elhanani has served in the past 3 decades in a variety of senior managerial positions in the Israeli industry and business arena, inter alia, as general manager, chairman of board of directors, chairman of audit committee and member of board of directors in a number of leading Israeli companies (among them, Israel Electric Corporation, Elbit, Go-Next (communication), Volfman Industries, the Standards Institution of Israel, ICIC (The Israeli Credit Insurance Company) and Hachsharat Ha'yishuv). Mr. Elhanani has also served as member of the presidium of the Manufacturers Association of Israel. Nowadays, Mr. Elhanani is in the business of companies’ restructuring, specializing in complicated turnaround. In addition, he acts as Chairman of the Board of Emesco – Emergency & Security Solutions and director at Tescom Ltd., an Israeli public company.

Mr. Zvi Peled has stepped down from the Company’s Board of Directors to devote more time to his other activities. The Company wishes to thank Mr. Peled for his contribution and tenure with the Company.

Mr. Shimon Bar-Kama, Chief Executive Officer of the Company, stated: “We are certain that Doron can broaden the Board's experience level and help with the turnaround of the Company. Doron brings to table extensive experience in corporate restructuring which, we believe, will be of great assistance to the Company.”

About BluePhoenix Solutions

BluePhoenix Solutions, Ltd. (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.

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