Business News
InkSure Announces Key Executive Changes
Tuesday 24. June 2008 - InkSure Technologies Inc. (BULLETIN BOARD: INKS), a leading provider of covert machine-readable security solutions for the prevention of counterfeiting, fraud and diversion, and an important developer of RFID solutions, announced the appointment of Philip M. Getter as Chairman of the Board of Directors and Yaron Meerfeld as acting Chief Executive Officer. These management changes are designed to better align InkSure's future growth in these rapidly expanding areas.
InkSure also announced that on June 16, 2008 Mr. Elie Housman resigned as CEO and Chairman of the Board but will continue as a Director. Mr. Housman contributed years of dedicated and inspired leadership to the Company through its early stages of technological and product development.
Philip M. Getter joined the Board of InkSure in 2004 as Chairman of the Audit Committee. Since 1985, Mr. Getter has been the Managing Member of GEMPH Development LLC, a corporate advisory firm, and has more than thirty five years of corporate finance experience. He served as Assistant to the Director of United States Atomic Energy Commission and was for many years, a partner with Shearson, Hammill & Co., the Senior Partner of Devon Securities and head of investment banking at Prime Charter, Ltd.
Mr. Getter has been Chief Executive Officer and Chairman of several public companies specializing in restructuring and reorganizations in the pharmaceutical industry. He received his B.S. in Industrial Relations from Cornell University. Mr. Getter is Chairman of the Audit Committees of EVCI Career Colleges and ICTS International NV (International Consultants on Targeted Security).
Mr. Meerfeld, based in Tel Aviv, Israel, was appointed acting Chief Executive Officer and will also retain his positions as Chief Operating Officer and Director of InkSure. Mr. Meerfeld, 48, joined InkSure in November 2001. Prior to that he developed expertise in authentication and multi-layered security systems as Managing Director of Kromotek, Inc. and as the Vice President for Sales and Marketing at SuperCom Ltd. Mr. Meerfeld holds a B.Sc. in Economics and Business from Bar Ilan University and an M.B.A. from Tel Aviv University in Israel.
Mr. Meerfeld stated that “We have reached an exciting time in our business — notably the progress of development of our new chipless RFID technology and our expectation that the technology will become commercially available in 2009.”
Mr. Getter stated “We are very enthusiastic about the future of InkSure. We believe that we are poised to capitalize on this significant technological breakthrough to increase stockholder value.”