MP MENASHE, Israel--(BUSINESS WIRE)--
The board of directors of Caesarstone Sdot-Yam Ltd. (NASDAQ:CSTE), a
manufacturer of high quality engineered quartz surfaces, following the
recent resignation of two directors, previously disclosed by the
Company, today reaffirmed its commitment to strong corporate governance
practices and its confidence in the Company's management team and
strategy.
The Company remains committed, in particular, to following the NASDAQ
rules with respect to its board and committee composition, including
maintaining a majority-independent board, and fully independent
audit, compensation and nominating committees.
The Chairman of the Board, Maxim Ohana, stated, "The board and the
Company benefit from healthy debate and different opinions and
perspectives in the board room. The recent resignations of two directors
did not reflect differences of opinion as to the Company's business,
accounting or public disclosures or concerns about any
alleged wrongdoing. All our board members, none of whom
are employees of the Company and a majority of whom are independent
under NASDAQ rules, fully support Company management and our current
strategy and are confident in their constructive cooperation as a board."
About Caesarstone
Caesarstone manufactures high quality engineered quartz surfaces, which
are used in both residential and commercial buildings as countertops,
vanities, wall cladding, floors and other interior surfaces. The wide
variety of colors, styles, designs and textures of Caesarstone®
products, along with Caesarstone's inherent characteristics such as
hardness, non-porous, scratch and stain resistance and durability,
provide consumers with excellent surfaces for their internal spaces
which are highly competitive to granite, manufactured solid surfaces and
laminate, as well as to other engineered quartz surfaces. Caesarstone's
four collections of products — Classico, Supremo, Motivo and Concetto —
are available in over 50 countries around the world. For more
information about the Company, please visit our website www.caesarstone.com.
(CSTE-E)
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Investor Relations
ICR, Inc.
James Palczynski,
+1-203-682-8229
Partner
Source: Caesarstone
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