Tefron's Board of Directors to Appoint Adi Livneh as New CEO
24 July 2008 - 5:01AM
PR Newswire (US)
MISGAV, Israel, July 23 /PRNewswire-FirstCall/ -- Tefron
(NYSE:TFRNYSE: TASE:NYSE:TFR), announced today that its Board of
Directors has appointed Mr. Adi Livneh as the new CEO of the
Company, effective September 1, 2008. Mr. Livneh currently serves
as the CEO of Global-Wire Ltd, a producer and marketer of
electrical conductors for various industries. Between 2001 and
2007, Mr. Livneh served as the CEO of Kitan Textile Industries, a
well known Israeli home textile products developer and manufacturer
that sells its products in North America, Europe and the Far East.
Mr. Livneh will replace Yos Shiran, who previously notified the
Company of his resignation as CEO. About Tefron Tefron manufactures
boutique-quality everyday seamless intimate apparel, active wear
and swim wear sold throughout the world by such name-brand
marketers as Victoria's Secret, Nike, Target, The Gap, Banana
Republic, J. C. Penney, lululemon athletica Warnaco/Calvin Klein,
Patagonia, Reebok, Dolce and Gabbana, 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, swim wear, beach
wear and active-wear. This press release contains certain
forward-looking statements, within the meaning of Section 27A of
the US Securities Act of 1933, as amended, Section 21E of the US
Securities Exchange Act of 1934, as amended, and the safe harbor
provisions of the US Private Securities Litigation Reform Act of
1995, with respect to the Company's business, financial condition
and results of operations. We have based these forward-looking
statements on our current expectations and projections about future
events. Words such as "believe," "anticipate," "expect," "intend,"
"will," "plan," "could," "may," "project," "goal," "target," and
similar expressions often identify forward-looking statements but
are not the only way we identify these statements. Except for
statements of historical fact contained herein, the matters set
forth in this press release regarding our future performance, plans
to increase revenues or margins and any statements regarding other
future events or future prospects are forward-looking statements.
These forward looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements,
including, but not limited to: - our customers' continued purchase
of our products in the same volumes or on the same terms; - the
cyclical nature of the clothing retail industry and the ongoing
changes in fashion preferences; - the competitive nature of the
markets in which we operate, including the ability of our
competitors to enter into and compete in the seamless market in
which we operate; - the potential adverse effect on our business
resulting from our international operations, including increased
custom duties and import quotas (e.g., in China, where we
manufacture for our swimwear division). - the potential adverse
effect on our future operating efficiency resulting from our
expansion into new product lines with more complicated products and
different raw materials; - the purchase of new equipment that may
be necessary as a result of our expansion into new product lines; -
our dependence on our suppliers for our machinery and the
maintenance of our machinery; - the fluctuations costs of raw
materials; our dependence on subcontractors in connection with our
manufacturing process; - our failure to generate sufficient cash
from our operations to pay our debt; - fluctuations in inflation
and currency; and - political, economic, social, climatic risks,
associated with international business and relating to operations
in Israel; As well as certain other risks detailed from time to
time in the Company's filings with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly
release any revisions to these forward-looking statements to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events. Contacts Company Contact:
IR Contact: Asaf Alperovitz Ehud Helft / Kenny Green Chief
Financial Officer G.K. Investor Relations +972-4-9900803
+1-646-201-9246 DATASOURCE: Tefron Ltd CONTACT: Contacts: Company
Contact: Asaf Alperovitz, Chief Financial Officer, +972-4-9900803,
. IR Contact: Ehud Helft / Kenny Green, G.K. Investor Relations,
+1-646-201-9246,
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