Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Instagram Outage Disrupts Thousands of U.S. Users 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
NETANYA, Israel, Nov. 10, 2016 -- RADA Electronic Industries Ltd. (Nasdaq:RADA) reported today that its Board of Directors has accepted the decision of Mr. Zvi Alon, RADA’s CEO, to step-down and leave the Company following 17 years of service, including 10 years as its CEO, since July 2007.
Mr. Dov Sella, the Company’s current Chief Business Development Officer will be replacing Mr. Alon, effective immediately.
Mr. Sella joined RADA in January 2003 and has served as COO since April 2003 until July 2007, at which point he was appointed the Company’s Chief Business Development Officer. Prior to RADA, between 1982 and 1997, Mr. Sella worked at Israel’s largest publicly traded defense company, Elbit Systems Ltd., where he served in a number of managerial roles including Director of Programs, Director of Avionic Engineering and Director of Business Development. Between 1997 and 2000, he served as VP of Business Development and VP of R&D of a medical devices start-up, UltraGuide Ltd. The three years prior to joining RADA, Mr. Sella was the president of NeuroVision Inc., a medical technology start-up.
Mr. Sella has a B.Sc. degree (cum laude) in Computer Engineering from the Haifa Technion (The Israeli Institute of Technology). He also served as a fighter aircraft navigator in the Israeli Air Force.
Mr. Yossi Ben Shalom, RADA’s Chairman of the Board, stated: "Zvika served RADA for 17 years, and became an integral part of the development and growth of the Company. During the past year, Zvika led the Company’s evolution from its traditional avionics business towards the future tactical radar systems. Zvika also led the Company’s fund raising efforts during the past two years that solved its financial crisis. We thank Zvika for his outstanding loyalty, efforts and contribution, and I would like to join the rest of the Board in wishing him the best of success in his new endeavors. He will always remain a cherished part of the RADA family."
Mr. Alon commented, “My 17 years with RADA, including the past 10 as CEO, was a highly rewarding period for me, overcoming many challenges and ultimately turning RADA around, setting it up for the future growth and prosperity. The time has come to hand over the reins and I wish Mr. Sella the best of luck and success in his new role. I shall always have a warm spot in my heart for RADA and wish the Company well for the future.”
Company Contact: RADA Electronics Industries Shiri Lazarovich, CFO Tel: +972-9-8921111 [email protected] Investor Relation Contact GK Investor Relations Ehud Helft / Gavriel Frohwein Tel: +1 646 688 3559 [email protected]
