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Matav Cable Systems

(Nasdaq:MATV) President and CEO Daniel Jacoby today announced he will resign as of March 1, 2001.

Jacoby will then join Israeli startup Cellenium, where he will serve as chairman. Cellenium is owned by Elbit (Nasdaq:ELBTF).

Jacoby told that he views the cellular market as an exciting new challenge. He added that some time ago Elbit had approached him and he had agreed to take up the new position.

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Cellenium develops applications for micropayments via cellular phones. The company is headed by its President and CEO Shaul Shalev.