Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) CEO Joseph Weiss has informed the board of directors that he intends retiring at the end of his six year term. Weiss will reach retirement age in the coming few months. "I am completing my term as CEO of Israel's leading defense company," he said, "I have served during the most successful and stormy years that the company has known. The company's achievements in recent years let it move into the next decade prepared for competition in global markets and respected worldwide as an innovative and leading company."
Among the outstanding achievements of Weiss in his term of office has been increasing the order backlog to a record $11 billion and an all-time record deal of $2.5 billion to supply India with defense systems developed at manufactured at IAI.
Weiss rose through the ranks at IAI, serving as the head of various divisions before being appointed VP in 2006.
His term of office has been blighted over the past year by a major bribery and corruption scandal touching senior staff at the government-owned defense company.
Recently appointed IAI chairman Harel Locker praised Weiss. "Joseph successfully led and guided IAI's complex activities with professionalism and determination, confronting the huge challenges, and leading a commercial, government-owned company in competit5ive markets."
Published by Globes [online], Israel business news - www.globes-online.com - on December 28, 2017
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