Ok, I can’t make head or, ehh, tails of this story out of Israel today.
In an announcement today to the AIM Stock Exchange, Israeli technology company Telit Communications plc (AIM:TCM) stated, “Telit… notes speculation regarding historical indictments in the United States of America of Telit’s Chief Executive Officer, Oozi Cats, in respect of matters which are unrelated to Telit and significantly pre-date its establishment.” The company added, “The Board of Telit has appointed independent solicitors to conduct a thorough review of this matter. Pending the outcome of this review, the Board has agreed to Cats’s request for a leave of absence from the company. Telit finance director and president Yosi Fait will serve as interim CEO during this time.”
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