Telit Commmunications has appointed Yosi Fait as finance director with overall responsibility for the M2M company’s finance strategy and business development.
He replaces Yariv Dafna, who has stepped down from the board but will remain the group CFO, responsible for the day-to-day operations of the firm’s finances, and will continue to serve as director off its subsidiaries worldwide.
Fait (pictured) is a certified public accountant and has held a number of executive positions with private and public companies. His previous roles with listed companies have included CEO of both Alony Group and H&O. He also served as CFO of Pelephone Communications, the first cellular operator in Israel. He began his professional career as an accountant with Ernst & Young in Israel.
“It is with great pleasure that I welcome Yosi to Telit’s board of directors,” said Oozi Cats, chief executive and member of the board of directors of Telit.
“I am confident that Yosi’s vast experience as CFO of a mobile network operator and as CEO of publicly traded companies will further strengthen Telit’s board and will focus our continuous efforts to increase shareholder value.
“It is also with great pleasure that I thank Mr Dafna for his service as a director. I look forward to maintaining a close working relationship with Yariv in his role ass CFO.”
Fait’s directorships in the past five years include Allo Telecom, BKF Investments & International Finance, BKF Commercial Centers, Chromat and Dai Telecom.
Telit develops and makes wireless M2M communications modules.