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News

TraceGuard CEO to step down from office in the new year.

TraceGuard Technologies : 13 December, 2007  (Company News)
Ehud Ganani to move aside from TraceGuard CEO to make way for replacement to be announced during 2008.
TraceGuard Technologies has announced that Dr Ehud Ganani plans to step down from his position as Chief Executive Officer of the Company at the expiration of his contract and will continue to serve as Chairman of the Board.

Dr Ganani's tenure as CEO runs through until February 2008 and may extend an additional period in order assist TraceGuard in recruiting and transitioning to a new Chief Executive. In his ongoing role as Chairman, Dr Ganani will continue his past activities in supporting the Company's strategic initiatives through his relationships and involvement with the critical government, industrial and investment sectors that form the core path for TraceGuard's ongoing growth.

Dr Ganani joined TraceGuard as Chairman in 2005 and assumed the CEO position in February 2006. Since then, TraceGuard has significantly enhanced its technical capabilities in Automated Trace Extraction and completed product development of its CompactSafe System. Additionally, the Company has completed three successful pilot programs with CompactSafe in 2007. TraceGuard has also successfully engaged in capital-raising activities and established cooperative agreements with key government and industry entities.

Dr Ganani said, "TraceGuard has accomplished a tremendous amount in the short period that I was fortunate to be the Company's CEO. We have succeeded in transforming Automated Trace Extraction from a concept into a working product through CompactSafe, which is now being evaluated by several key homeland security customers, and which has the potential to significantly improve aviation security and operations worldwide."

"It has been my privilege to serve as TraceGuard's CEO. I have the utmost confidence in TraceGuard's strong management and engineering team, and I look forward to actively supporting the Company as Chairman and through the transition period ahead."

David Ben-Yair, TraceGuard's Chief Financial Officer and Chief Operating Officer, said, "We anticipate that Dr Ganani's successor will have an increased focus on marketing and operations, especially in our core markets, as TraceGuard moves from the development stage into the commercialisation phase in 2008."

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