ROSH PINNA, Israel, Feb. 27,
2018 /PRNewswire/ -- On Track Innovations Ltd.
(OTI) (NASDAQ: OTIV), a global provider of near field
communication (NFC) and cashless payment solutions, has promoted
interim CFO, Assaf Cohen, to the
permanent Chief Financial Officer position, effective
immediately.
Mr. Assaf Cohen has been serving
in the role of Corporate Controller and deputy CFO at OTI since
2015, where he has been responsible for the finance departments of
the company's subsidiaries worldwide. He has held increasing levels
of responsibility throughout his nearly three years with the
company and has proven his capabilities in the interim CFO role.
Previously, Mr. Assaf Cohen was
company controller at Samgal Ltd., and prior to that, served as
Senior CPA at Ernst & Young.
"Assaf has been a strong leader within our finance department
and has consistently performed at a high level, while holding
increasing roles of responsibility within our firm," said
Shlomi Cohen, Chief Executive
Officer of On Track Innovations. "With his extensive knowledge
of our business model and robust skillset, we are confident that
Assaf will play a key role in helping us achieve our goals. We look
forward to leveraging his deep financial experience as we continue
to grow our presence in the marketplace. I am proud to promote him
to permanent CFO, where the company can best leverage his
innovative thinking and vision to create long term value for
shareholders."
The current Chief Executive Officer, Shlomi Cohen, is not related to the new Chief
Financial Officer, Assaf Cohen.
About On Track Innovations Ltd
On Track Innovations (OTI) is a global leader in the design,
manufacture, and sale of secure cashless payment solutions using
contactless NFC technology with an extensive patent and IP
portfolio. OTI's field-proven innovations have been deployed around
the world to address cashless payment, automated retail, and
petroleum markets. OTI distributes and supports its solutions
through a global network of regional offices and alliances. OTI is
the proud recipient of the 2017 AI Award for Best Cashless Payment
Solutions Provider – Israel. For
more information, visit www.otiglobal.com.
Safe Harbor for Forward-Looking Statements
This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Whenever we use words such as "believe,"
"expect," "anticipate," "intend," "plan," "estimate," "will," "may"
or similar expressions, we are making forward-looking statements.
For example, we are using forward-looking statements when we
discuss our expectations regarding our growth or profitability,
expected divestitures and plans for our existing and new products
and services,. Because such statements deal with future events and
are based on OTI's current expectations, they are subject to
various risks and uncertainties and actual results, performance or
achievements of OTI could differ materially from those described in
or implied by the statements in this press release. Forward-looking
statements could be impacted by issues encountered in evaluation
and validation periods in the U.S. and other markets for
contactless payment cards, or new and existing products and our
ability to execute production on orders, as well as other risks and
uncertainties, including those discussed in the "Risk Factors"
section and elsewhere in our Annual Report on Form 10-K for the
year ended December 31, 2016, and in
subsequent filings with the Securities and Exchange Commission.
Although we believe that the expectations reflected in such
forward-looking statements are based on reasonable assumptions, we
can give no assurance that our expectations will be achieved.
Except as otherwise required by law, OTI disclaims any intention or
obligation to update or revise any forward-looking statements,
which speak only as of the date hereof, whether as a result of new
information, future events or circumstances or otherwise. The
reader is cautioned not to place undue reliance on forward-looking
statements.
Investor Relations:
Greg Falesnik
Managing Director
MZ Group - MZ North America
(949)385-6449
MBII@mzgroup.us
www.mzgroup.us
Media Contact:
Richard
Harris
+9-72-505246989
Richard@otiglobal.com
View original
content:http://www.prnewswire.com/news-releases/on-track-innovations-promotes-interim-cfo-assaf-cohen-to-permanent-cfo-300604684.html
SOURCE On Track Innovations Ltd. (OTI)