August 13, 2012
Elbit Systems’ President and CEO announces intention to retire in 2013
Elbit Systems released that the Company’s Board of Directors accepted the request of Joseph Ackerman, the Company’s President and CEO, to retire from his position in the coming months and the Board confirmed the appointment of Bezhalel (Butzi) Machlis as his successor. The retirement and new appointment will become effective on April 1, 2013, and until that time Ackerman will continue to serve as the Company’s President and CEO, leading a gradual succession process. The Company’s Board of Directors intends to recommend to the Company’s shareholders, that following his retirement as President and CEO, Ackerman be appointed to the Company’s Board of Directors as Vice Chairman.