February 4, 2013
Magal Security Systems, Ltd. (NASDAQ GM: MAGS) today announced that the Board of Directors has elected Mr.
Chairman of the Board, effective
February 15, 2013
. Mr. Stiefel will succeed Mr.
, following his election to the Israeli Parliament.
has been a member of Magal's Board since
. He currently serves as Head of the Kirsh Family Office in
and has many years of experience in various trade and financial firms as a CEO, financial director and consultant.
Jacob Perry, Chairman of the Board of Magal S
, commented: "Mr. Stiefel has been closely involved with Magal over many years and is very familiar with its business, its strategy and direction. The tightening of Magal's relationship with its main shareholder, the Kirsh Group, is a sign of their confidence in the company growth plans. I leave Magal at a time when its future is bright and under strong leadership with a highly effective management team."
Mr. Stiefel, on behalf of the
Board of Directors
for his ten years of service and contribution and wishes him every success as a member of the Israeli Parliament.
About Magal S
is a leading international provider of solutions and products for physical and cyber security, safety and site management. Over the past 42 years, Magal S
has delivered tailor-made solutions and turnkey projects to hundreds of satisfied customers in over 80 countries in some of the world's most demanding locations.
offers comprehensive integrated solutions for critical sites, managed by
our 4th generation cutting
Physical Security Information Management
system (PSIM). The solutions leverage our broadest portfolio of unique homegrown
Perimeter Intrusion Detection Systems (PIDS),
technology and holistic
For more information:
Magal S3 CCG Investor Relations
Eitan Livneh, CEO Ehud Helft/Kenny Green
Tel: +972-3-539-1421 Tel: (US) +1-646-201-9246
Assistant: Ms. Elisheva Almog Int'l dial: +972-3-607-4717
E-mail: firstname.lastname@example.org E-mail: email@example.com
SOURCE Magal Security Systems Ltd