His responsibilities will be assumed by the director of Operations.
Mr. Ron, 61, was appointed as COO on July 1, 2011 and as joint company secretary on November 26, 2015. As COO he was responsible for operational matters and provides guidance and support to Trendlines Incubators Israel on matters related to the Israel Innovation Authority. As joint company secretary, he was responsible for the Company's compliance with applicable Israeli rules and regulations.
The termination of Mr. Ron’s employment was in accordance with the Company’s Expense Reduction Plan. While the cessation as company joint secretary was effective on November 10, 2017, the cessation as COO will be effective on January 5, 2018.
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