JERUSALEM — Israel Aerospace Industries has named Boaz Levy, its former vp for the Programs Missiles and Area Group, as its new CEO.
Levy’s group oversaw main contracts for IAI over time, together with billion-dollar offers in India in 2018. He was additionally central to the Arrow Three program, which was developed with U.S. help to intercept high-altitude targets in area, comparable to ballistic missiles.
In his new place, Levy mentioned he plans to steer the corporate by way of the challenges of the long run. “IAI has remodeled in recent times, however we nonetheless have a substantial solution to obtain the corporate’s potential and strengthen our place in present and new markets,” he mentioned.
Levy’s appointment was accepted by the Board of Administrators, in accordance with a press release from the corporate. The search committee selected Levy to interchange Nimrod Sheffer after announcing in July he would step down. Sheffer had changed Joseph Weiss as CEO in 2018, who had been at the helm of the company for six years.
Sheffer got here from the strategic planning space of the corporate and had drafted a brand new progress technique for IAI. In March the corporate mentioned its annual revenue surpassed $four billion for the primary time. That was a rise from $3.6 billion in 2018 and $3.5 billion in 2017.
IAI’s chairman of the board, Harel Locker, praised the unanimous choice to appoint Levy. “Levy has efficiently managed the Programs Missiles and Area Group — IAI’s most worthwhile group that in recent times has made technological and monetary groundbreaking achievements. Boaz is aware of the home and worldwide protection market and understands our buyer’s wants,” Locker mentioned.
Sheffer formally stepped down on Oct. 31, and Levy’s nomination has been submitted to Israeli Protection Minister Benny Gantz and Minister for Cyber and Nationwide Digital Issues Dudi Amsalem, who supervise the federal government’s authority over IAI.
IAI is considered one of Israel’s three giant protection firms together with Elbit Programs and Rafael Superior Protection Programs. Most of the firms’ capabilities are built-in into key Israeli weapon programs, such because the Iron Dome air protection system, which makes use of radar made by IAI subsidiary Elta Programs. Equally, the brand new Sa’ar-class corvette will mix capabilities from IAI, together with a brand new sea-to-sea missile the corporate not too long ago examined.
Levy was beforehand head of IAI’s air protection division between 2010 and 2013. A graduate of Israel’s Technion, he got here to IAI in 1990 as an engineer and labored on the Arrow program within the 1990s and 2000s. In accordance with IAI, he “headed the induction of the Arrow-2 into operational service.” He additionally headed the Barak-Eight program, which IAI claims is among the world’s most superior air protection programs. The Barak-Eight can also be a significant income supply for the corporate.
In 2017, Levy indicated Israel aimed to construct future interceptors past Arrow 2 and Arrow 3. The Arrow 3 is at the moment Israel’s high tier in a multilayered air protection system that features the Iron Dome and David’s Sling, all packages supported by the U.S. Greater than 20 American states are concerned within the manufacturing of Arrow 3.
Israel faces rising threats from Iran and in addition challenges at sea, which is partly why it has shifted its naval doctrine amid adoption of the new Sa’ar 6 corvettes, and in addition why it rolled out a new multiyear defense strategy called Momentum. The nation has aso begun modernizing coaching, creating new navy items and upgrading communications programs for its armed forces.