Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced that director Yael Langer has decided to resign from her position as a member of the Board, in effect as of the Company’s 2022 Annual General Meeting of Shareholders, which will take place on October 3, 2022. As part of the Company’s ongoing director refreshment efforts, the Nomination Committee and Board have nominated Efrat Makov to stand for election as an independent director at the Company’s 2022 AGM. If elected, Ms. Makov will serve the remainder of Ms. Langer’s three-year term ending on the date of the 2024 Annual General Meeting. With the addition of Ms. Makov, the Ceragon Board will continue to be comprised of seven directors, of which five will be considered independent and four will have been added since the 2021 AGM.
“On behalf of the Board and management team, we would like to thank Yael for her many contributions and guidance during her tenure with the Company,” said Zohar Zisapel, Chairman of Ceragon Board of Directors. “As a director, Yael has been an instrumental contributor of legal and corporate governance expertise and a strong steward of shareholder interests during her tenure on the Ceragon Board. We wish her the very best in her future endeavors.”
Ms. Langer commented, “I am grateful for the opportunity to have served Ceragon shareholders as a director. In that time, the Company has experienced significant transformation, and we have reconstituted the Board with a number of new independent directors, which I believe will position the Company to capitalize on the next era of growth.”
“We are pleased to nominate Efrat Makov for election to the Ceragon Board,” continued Mr. Zisapel. “We conducted a comprehensive search aided by an independent search firm for industry leaders with the experience and expertise to help accelerate Ceragon’s strategy. Ms. Makov will bring valuable and highly relevant industry knowledge and experience that will help us create more shareholder value by executing our strategic plan driving profitable growth, as well as exploring other strategic alternatives as applicable. We believe the Board will benefit from Efrat’s extensive strategic, financial and public board experience including in the telecommunications sector. We are confident that our Board will benefit from her fresh perspectives and look forward to working closely with her as Ceragon builds on its momentum.”
“I would like to thank Yael for her years of contribution to Ceragon’s Board,” added Doron Arazi, Ceragon’s CEO. “We believe the addition of Ms. Makov will further help strengthen Ceragon’s position as a global innovator and leader in best-of-breed solutions for 5G wireless transport and will allow us to pursue more ideas and opportunities to maximize value for our shareholders.”
Ms. Makov commented, “I am honored to have this opportunity to serve on the Board and leverage my experience to accelerate Ceragon’s strategic plan. I look forward to the chance to support Ceragon as it continues to execute on its strategy and generate superior shareholder value. Together, I am confident that we can further strengthen the Company’s global position in an attempt to maximize value for shareholders.”
The Company’s 2022 AGM is scheduled to take place on October 3, 2022. The Company will separately file proxy materials with the Securities and Exchange Commission (“SEC”) in connection with the 2022 AGM.
About Efrat Makov
Efrat Makov has extensive telecom and public company director experience. Ms. Makov is currently serving as a director of Allot ltd., iSPAC 1 Ltd. and B Communications Ltd. Ms. Makov previously served as a director of BioLight Life Sciences Ltd.; Kamada Ltd.; and Anchiano Therapeutics Ltd. Previously, she served as the CFO of Alvarion, an Israeli-based global provider of autonomous wi-fi networks, and as the CFO of Aladdin Knowledge Systems. Formerly, she served as Vice President of Finance at Check Point Software Technologies. Earlier in her career, she spent seven years in public accounting with Arthur Andersen LLP in its New York, London and Tel Aviv offices. Ms. Makov holds a B.A. degree in accounting and economics from Tel Aviv University and is a Certified Public Accountant in Israel and the United States.
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and leading solutions provider of 5G wireless transport. We help operators and other service providers worldwide increase operational efficiency and enhance end customers’ quality of experience with innovative wireless backhaul and fronthaul solutions. Our customers include service providers, public safety organizations, government agencies and utility companies, which use our solutions to deliver 5G & 4G broadband wireless connectivity, mission-critical multimedia services, stabilized communications, and other applications at high reliability and speed.
Ceragon’s unique multicore technology and disaggregated approach to wireless transport provides highly reliable, fast to deploy, high-capacity wireless transport for 5G and 4G networks with minimal use of spectrum, power, real estate, and labor resources. It enables increased productivity, as well as simple and quick network modernization, positioning Ceragon as a leading solutions provider for the 5G era. We deliver a complete portfolio of turnkey end-to-end AI-based managed and professional services that ensure efficient network rollout and optimization to achieve the highest value for our customers. Our solutions are deployed by more than 400 service providers, as well as more than 800 private network owners, in more than 150 countries. For more information please visit: www.ceragon.com
Ceragon Networks® and FibeAir® are registered trademarks of Ceragon Networks Ltd. in the United States and other countries. CERAGON ® is a trademark of Ceragon Networks Ltd., registered in various countries. Other names mentioned are owned by their respective holders.
