MISGAV, Israel, November 16 /PRNewswire-FirstCall/ --
- Board of Directors Establishes a Search Committee to Nominate New CEO
Tefron Ltd. (OTC:TFRFF; TASE:TFRN), a leading producer of seamless
intimate apparel and engineered-for-performance (EFPTM) active wear, today
announced that Mr. Adi Livneh, who has served as the Company's CEO since
September 1, 2008, has notified the Company of his decision to resign from
his position as CEO of Tefron. Mr. Livneh resigned for personal reasons. Mr.
Livneh's resignation will become effective upon the earlier to occur of the
appointment of a new CEO or February 15, 2012.
The Board of Directors would like to thank Mr. Livneh for his
contribution to the Company, and wishes him luck in the future.
Establishment of Search Committee for Appointment of New CEO
The Company further announced that the Board of Directors has established
a search committee to nominate a new CEO. The search committee is comprised
of the Chairman of the Board of Directors and three directors, two of whom
are the Company's External Directors. The search committee is expected to
present its recommendations to the Board of Directors in the near future.
About Tefron
Tefron manufactures boutique-quality everyday seamless intimate apparel,
active wear and swimwear sold throughout the world by such name-brand
marketers as Victoria's Secret, Nike, Target, The Gap, J.C. Penney,
Maidenform, lululemon Athletica, Warnaco/Calvin Klein, Patagonia, Reebok,
Swimwear Anywhere, Abercombie&Fitch, and El Corte Englese, as well as other
well known retailers and designer labels. The Company's product line includes
knitted briefs, bras, tank tops, boxers, leggings, crop, T-shirts, nightwear,
bodysuits, swimwear, beach wear and active-wear.
Contacts
Company Contact:
Eran Rotem
Chief Financial Officer
+972-4-990-0803
reran@tefron.com
SOURCE Tefron Ltd
Contacts: Company Contact: Eran Rotem, Chief Financial Officer,
+972-4-990-0803, reran@tefron.com
