On Track Innovations Ltd. announced that its Chief Executive Officer ("CEO") and member of the Board of Directors, Mr. Shlomi Cohen, will step down from the position of CEO by the end of 2019 and will then assume the role of Chairperson of the Board. The Company has initiated the process of recruiting a new Chief Executive Officer. After 4 years as OTI's CEO during one of the most challenging times of the Company's history, Mr. Cohen will be nominated as the OTI's Chairperson of the Board.

In connection with this role, Mr. Cohen will undertake to actively support OTI management and provide other services as the OTI Board may request from him. Subject to approval by the Company's shareholders, the transition will be effective January 1, 2020. After stepping down from the position of Chairperson of the Board, Mr. Scott Medford is expected to continue to serve as a Director.