LOD, Israel, Sept. 16 -- NUR Macroprinters, a leading supplier of wide-format inkjet production printing systems for the out-of-home advertising market, announced today that David Seligman will join the Company as Chief Financial Officer, effective October 1, 2003. He will succeed Hilel Kremer, who, after five years as CFO, is leaving NUR to pursue other business opportunities.
Prior to joining NUR, Mr. Seligman served as Chief Financial Officer for Radvision (Nasdaq: RVSN), a leading provider of networking products for voice, video telephony and data over IP and 3G networks. Previously, he was Chief Financial Officer for LanOptics, a senior financial analyst for Fidelity Investment Systems in Boston, MA, and served as a controller and financial analyst for several hi-tech companies. Mr. Seligman earned a M.B.A. in accounting and finance from Tel Aviv University, after receiving his B.A. in political science and geography.
Commenting on his new position, Mr. Seligman said, "I look forward to joining NUR and helping the company reach its financial goals. These include achieving a positive cash flow, increasing the value, improving capital structure, and regaining investor confidence. My priorities include strengthening internal control systems so we can produce a strong balance sheet. This should produce financial stability and increase operational profitability."
David Amir, NUR's Chief Executive Officer concluded, "David's proven success in tight budget planning and control, as well as his high level of credibility within the financial community, make him a fine addition to NUR's senior management team. I would like to thank Hilel Kremer for his years of service. He has been a tremendous asset to us since joining NUR five years ago and I wish him well in his future endeavors."
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