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Shamir Optical Industry Ltd. Appoints Amos Netzer as New Chief Executive Officer

Posted on: Thursday, 30 April 2009, 12:00 CDT

KIBBUTZ SHAMIR, Israel, April 30 /PRNewswire-FirstCall/ -- Shamir Optical Industry Ltd. (Nasdaq: SHMR) ("Shamir"), a leading provider of innovative products and technology to the ophthalmic lens market, today announced that it has appointed Mr. Amos Netzer, age 53, as its new chief executive officer, replacing Mr. Eyal Hayardeny who has resigned from the position. The appointment of Mr. Netzer will become effective on July 1, 2009.

Mr. Netzer currently serves as the chief executive officer of Spirit Economic Consultants Ltd. He served as an external director of the Shamir board of directors until April 26, 2007. From July 2000 and until September 2007 he served as the managing director of Palram Industries Ltd., a public company traded on the Tel Aviv Stock Exchange. From 1998 until 2000 he was the managing director of SMS, a private company engaged in the production and distribution of plastic products to world markets. Between 1993 and 1997, he was president of Suntuf, Inc., a U.S.based company where he was responsible for the establishment of the North and South American marketing and distribution network of PalramPaltough Ltd. He currently serves as a board member of Palram Industry Ltd., SZP Ltd., Al Baad Ltd., and as the chairman of the board of directors of Bio Bee Ltd., and Polyrit Ltd. He holds a B.Sc. degree in industry and administrative engineering from the Technion Institute in Haifa and an MS degree in public policy from Tel Aviv University.

"We are satisfied that Amos shall serve as Shamir's new chief executive officer. We are sure that his wide experience in previous positions shall assist to promote Shamir and its subsidiaries worldwide" said Uzi Tzur, the chairman of Shamir's board of directors.

Uzi Tzur added, "We thank Eyal Hayardeny for his contribution to Shamir for approximately five years, including his work during Shamir's public offering and his service as executive vice president and vice president of business development, and would like to wish him success at his new path."

About Shamir

Shamir is a leading provider of innovative products and technology to the spectacle lens market. Utilizing its proprietary technology, the company develops, designs, manufactures, and markets progressive lenses to sell to the ophthalmic market. In addition, Shamir utilizes its technology to provide design services to optical lens manufacturers under service and royalty agreements. Progressive lenses are used to treat presbyopia, a vision condition where the eye loses its ability to focus on close objects. Progressive lenses combine several optical strengths into a single lens to provide a gradual and seamless transition from near to intermediate, to distant vision. Shamir differentiates its products from its competitors' primarily through lens design. Shamir's leading lenses are marketed under a variety of trade names, including Shamir Genesis(TM), Shamir Piccolo(TM), Shamir Office(TM), Shamir Nano(TM), Shamir Autograph(TM) and Shamir Smart(TM). Shamir believes that it has one of the world's preeminent research and development teams for progressive lenses, molds, and complementary technologies and tools. Shamir developed software dedicated to the design of progressive lenses. This software is based on Shamir's proprietary mathematical algorithms that optimize designs of progressive lenses for a variety of activities and environments. Shamir also has created software tools specifically designed for research and development and production requirements, including Eye Point Technology software, which simulates human vision.

Investor Relations Contacts: Roni Gavrielov Jeffrey Goldberger/Marybeth Csaby KM / KCSA Investor Relations KCSA Strategic Communications +972-3-516-7620 212-896-1249/212-896-1236 roni@km-ir.co.il jgoldberger@kcsa.com / mcsaby@kcsa.com

SOURCE Shamir Optical Industry Ltd.

Source: PR Newswire

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