Magal Security Systems announced today that Dror Sharon has been appointed as CEO replacing Saar Koursh, who has led Magal since 2015.
Magal Security Systems announced that Dror Sharon has been appointed as CEO replacing Saar Koursh, who has led Magal since 2015. Sharon is expected to start his role as Magal's CEO on June 24th, 2018. Koursh will continue in his position until April 30th. Yaniv Shachar, E.V.P. and General Manager of Magal Israel, will serve as acting CEO in the interim period.
Sharon joins Magal following a successful career as President and CEO at Controp Precision Technology, a company specializing in developing, manufacturing and selling Electro Optical and Precision Motion Control Systems for the global defense and homeland security (HLS) markets. During Sharon's tenure and under his leadership, Controp’s revenue grew significantly while maintaining high profit margins. Prior to that, Sharon served in various positions at Opgal Optronics Ltd., the last four years as its President and CEO. Sharon holds an MBA degree from Derby University, United Kingdom and a B.Sc. degree in Mechanical Engineering (Dean’s award of excellence) from the Technion -Israel Institute of Technology, Haifa, Israel.
Magal’s Chairman of the Board, Gillon Beck, commented: "We look forward to having Dror join us and lead Magal to the next stage. With over twenty years of management leadership, ten of which in the position of CEO, backed by broad technological experience, proven leadership and business success particularly in the homeland security and defence field, Dror brings Magal the necessary qualities and experience for the years ahead. We have great expectations in his ability to grow the business and improve the overall performance of Magal.”
Beck added: “I would like to also thank Saar for his key contributions to Magal during his tenure as CEO, leading the company through a challenging period to the recent highest backlog seen in recent years. I wish Saar well and much success in his future endeavors.”
Saar Koursh commented: “I am proud to have led Magal, a company with very strong inherent potential, during the past three years. Over this time, together with my management team, we have begun to successfully diversify the business through organic improvement, while completing some important acquisitions which will support Magal’s long-term growth and diversification. I leave Magal in a good position and ready for the next step, and I look forward to transferring the responsibility for this excellent company to my successor. I wish Dror much success in his new role.”