Amiad Water Systems appoints Dori Ivzori CEO

Ivzoi will succeed Arik Dayan who remain to assist with handover, will also be appointed director, subject to shareholder approval at the next meeting on 3 November.

The 51-year-old was previously managing director at Tamma Plastics, where he performed the functions of chairman and chief executive since 2008, and oversaw mergers and acquisitions in Europe and the US.

He was admitted to the Bar in Israel in 2000 and started his career in 1986 working in Mishmar Haemek Kibbutz, an agricultural community in northern Israel, which included four years managing the kibbutz farming business.

Chairman Eli Opper thanked Dayan for his work over the last two decades and said Ivzori’s experience of running a large international corporation in the agricultural sector will be invaluable to the company to take Amiad to the next level of growth.

Ivzori, added: "It is an exciting time for Amiad as it consolidates after last year's turnaround and prepares for growth. Its innovative products and its global reach make it one of the best in the world and I am enthused about joining the company. It is an exciting challenge for me and I will use my expertise and international experience to help grow the company."

In early September the company reported that its half-year pre-tax profit more than halved due to a fall in sales as it was affected by the prolonged downturn in oil prices. Revenue was also down 11.4% to $52.4m and the gross margin narrowed slightly to 39.2% from 40.1% last year.