On Track Innovations announced that it named Shlomi Cohen as CEO, succeeding Ofer Tziperman. Prior to joining the company, Cohen served as president and CEO of RayV. Separately, Dimitrios Angelis and Charles Gillman resigned from the board of directors, effective immediately.

Prior to joining the company, Cohen served as president and CEO of RayV. Prior to RayV, Cohen was president of Europe, the Middle East and Africa (EMEA) for NICE Systems. As the company's new CEO, Cohen will apply his more than 25 years of experience managing global organizations to advance the sales of the company cashless payment solutions. He will oversee all of the company's sales and marketing activities, as well as focus on developing strategic channel partnerships around the globe.

In addition, Cohen will also focus on maximizing the value of the company non-core assets, including intellectual property, as well as continue to pursue meaningful non-employee-related cost cutting and differentiation of the company technology and solutions.