TEL AVIV, Israel, April 22, 2013 (GLOBE NEWSWIRE) -- Alvarion® Ltd. (Nasdaq:ALVR), a global provider of optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of public and private networks, today announced the appointment of Assaf Katan as Acting Chief Executive Officer of the company, effective immediately.
Mr. Katan joined Alvarion in 2010 as part of the corporate development team and was subsequently appointed Corporate Vice President, Strategy & Business Development and a member of the company's senior management. In this role, Mr. Katan has been involved in the company's major strategic initiatives, including the acquisition of Wavion Ltd. in November 2011, which expanded Alvarion's technology portfolio to include carrier Wi-Fi, and the turnaround plan launched in mid-2012, which included a comprehensive review of Alvarion's sales and marketing efforts and a decision to focus the business on vertical and carrier-grade Wi-Fi markets.
"We are pleased that Assaf accepted the Board's request to lead Alvarion as we believe he is the right person for the job at this time. Assaf brings to the role extensive industry experience, and as part of the management team, he knows the company, its corporate culture and the challenges it faces very well," said Amnon Yacoby, Chairman of the Board. "Assaf has been intimately involved with formulating and executing the company's turnaround plan over the past year. We are confident that under his leadership, the company will continue with the execution of the turnaround plan, focusing attention and resources on the company's core target markets – vertical and Wi-Fi markets."
Mr. Yacoby added, "2012 was a challenging year for Alvarion. Nonetheless, we believe that we have made progress over the past several months and in spite of the existing challenges, expect to maintain this momentum."
"I am honored by the trust that the board of directors has placed in me. While I recognize the challenges that Alvarion is facing, I believe that the current turnaround plan we are executing has put Alvarion back on a growth trajectory and we are already seeing the first fruits of these efforts. We remain committed to the traditional vertical markets we have excelled in such as security, smart cities and WISPs, as well as expanding our presence in the carrier Wi-Fi market," said Mr. Katan. "I look forward to closely working with the board of directors and especially Alvarion's management team on successfully completing this turnaround."
Prior to joining Alvarion, Mr. Katan served as Vice President, Marketing and Business Development at Media Layers, a privately-held company engaged in the mobile advertising space. Before Media Layers, Mr. Katan held various corporate, marketing and business development positions at Comverse, where, among others, he initiated and led the company's entry into the mobile content domain. Mr. Katan was also a Team Leader at Shaldor Strategic Consulting, a leading management consulting firm in Israel. Mr. Katan holds a Bachelor's Degree in Psychology and Business Administration from the University of Tel Aviv, Israel.
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Alvarion Ltd. (Nasdaq:ALVR) provides optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of telecom operators, smart cities, security, and enterprise customers. Our innovative solutions are based on multiple technologies across licensed and unlicensed spectrums. (www.alvarion.com)
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Alvarion's management and are subject to various factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: our failure to fully implement our 2012 turnaround plan, our inability to reallocate our resources and rationalize our business in a more efficient manner, potential impact on our business of the current global macro-economic uncertainties, the inability of our customers to obtain credit to purchase our products as a result of global credit market conditions, the failure to fund projects under the U.S. broadband stimulus program, continued delays in 4G license allocation in certain countries; the failure of the products for the 4G market to develop as anticipated; our inability to capture market share in the expected growth of the 4G market as anticipated, due to, among other things, competitive reasons or failure to execute in our sales, marketing or manufacturing objectives; the failure of our strategic initiatives to enable us to more effectively capitalize on market opportunities as anticipated; delays in the receipt of orders from customers and in the delivery by us of such orders; our failure to fully and effectively integrate the business and technology of Wavion Inc., acquired by us in November 2011, into our products and realize the expected synergies from the acquisition; the failure of the markets for our (including Wavion's) products to grow as anticipated; our inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; our inability to establish and maintain relationships with commerce, advertising, marketing, and technology providers; our inability to comply with covenants included in our financing agreements; our inability to raise sufficient funds to continue our operations, either through equity issuances or asset sales; and other risks detailed from time to time in the Company's annual reports on Form 20-F as well as in other filings with the U.S. Securities and Exchange Commission.
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The information in this press release is provided solely for information purposes, and is not a commitment, promise or legal obligation to deliver any products, features and/or functionalities, and should not be relied upon in making purchasing decisions. The development, release and timing of any products, features and/or functionalities described remains at the sole discretion of Alvarion. If and when any products, features and/or functionalities are offered for sale by Alvarion, they will be sold under agreed upon terms and conditions. This information may not be incorporated into any contractual agreement with Alvarion or its subsidiaries or affiliates. Alvarion makes no representations or warranties with respect to the contents of this press release, and specifically disclaims any express or implied warranties of merchantability or fitness for any particular purpose.
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