Zoomd Technologies Ltd. announced that its current Chief Executive Officer (CEO), Mr. Ofer Eitan, will be stepping down from his role and the Company will commence a search for a new CEO. Mr. Eitan will continue to serve as the Company's CEO until the earlier of (1) a suitable replacement CEO being found; and (2) December 31, 2022. Mr. Eitan will remain on the Company's Board of Directors until further notice following his resignation and assist in a smooth leadership transition.

Ofer Eitan has been the Chief Executive Officer of the Company for the past 5 years, since the merger in 2017 between the Company and Moblin (the company that he founded and managed). Under Mr. Eitan's leadership, the Company has built a strong management team and drove excellent results ­ the 2021 audited annual financial statements showed annual revenues of above $50M, representing a YoY growth of more than 100%, a solid and profitable operation, with tier 1 international companies, and a strong path for the development of the Company's business. To ensure a seamless transition, the Company's Board of Directors has appointed a committee including Mr. Eitan to conduct a search for the new CEO and make recommendations to the full Board of Directors.

The committee will be hiring a leading executive search firm to conduct a global search for Mr. Eitan's successor.