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Nova Announces Leadership Change

Stocks in this article: NVMI

REHOVOT, Israel, June 19, 2013 /PRNewswire/ --

Nova Measuring Instruments Ltd. (Nasdaq: NVMI), provider of leading edge standalone metrology and the market leader of integrated metrology solutions to the semiconductor process control market, announced today that Gabi Seligsohn, Nova's President & CEO, has informed the Board of Directors of his decision to step down from his position.

The Company also announced the Board of Directors' decision to promote Eitan Oppenhaim, Nova's Executive Vice President, to become President and Chief Executive Officer, effective July 31, 2013.

Gabi Seligsohn's decision comes after 7 years as President & CEO. During that period Seligsohn headed a growth strategy which led to significant growth in the Company's net profitability and revenues. His vision and leadership has transformed Nova from a single product OEM company to a multiproduct leading edge solution provider.

With more than 15 years of corporate leadership and relevant industry experience at several prominent companies, Mr. Oppenhaim is currently the Company's Executive Vice President of the Global Business Group, heading all of Nova's customer-facing activities.

"The past 15 years at Nova represent a most rewarding journey, both personally and professionally," said Seligsohn. "I am extremely proud of what we have accomplished during my seven-year tenure as President & CEO. Our achievements will serve as a strong foundation on which to build the future of this great company, and I believe this is the right time for me to step down. I am delighted that the Board has decided to accept my recommendation that Eitan take my place at the helm. Our company is performing extremely well; we have an excellent seasoned management team, leading edge systems and technology and, most importantly, we have wonderful people across the entire organization. Over the past several years, Eitan and I have worked closely to define a strategy for achieving the next big milestone, and I am confident in Eitan's ability to lead the company to the next level and beyond."

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