Elbit Vision Systems CEO Takes Leave

YOQNEAM, Israel, May 23 -- Ofer Yuval, president and CEO of Elbit Vision Systems (EVS) is leaving the company as of June.

"It has been my privilege to serve EVS," Yuval said. "Now it is time for me to pursue other opportunities. EVS has made progress in developing its Far-Eastern markets, which now make a real contribution to our revenues. EVS continues to develop its technology and products to further enhance and strengthen its market position."

EVS board of directors has nominated Nir Alon, the chairman of the board to replace Yuval. Alon who is the major share holder of EVS will serve as a chairman and CEO.