MP MENASHE, Israel--(BUSINESS WIRE)--
Caesarstone, Ltd. (NASDAQ:CSTE), a manufacturer of high quality
engineered quartz surfaces, today announced that it had begun a process
of transition to a new Chief Financial Officer. This follows Yair
Averbuch's notification that he has chosen to leave the company with a
planned departure date of January, 23, 2018. The Company is appreciative
of what it believes to be ample notice to effect a seamless transition
and has already begun a search process for a new Chief Financial Officer.
Raanan Zilberman, Caesarstone's Chief Executive Officer, commented, "The
Company conveys its deep appreciation to Yair for his important
contributions to Caesarstone and its shareholders over the last seven
years. We wish him well and are pleased to have his support through a
transitional period. We have already commenced a search and expect to
identify a highly-qualified financial executive who will help the
Company move forward with a fresh perspective and energetic leadership."
Yair Averbuch, Caesarstone's Chief Financial Officer, said, "It has been
an honor to provide financial leadership to Caesarstone. I will always
be proud of what our team has accomplished and grateful for the time
I've spent with our many fine employees, customers, investors and
stakeholders. Working together, we have all helped Caesarstone achieve a
strong, global leadership position in our industry."
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, Supernatural, 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)
Forward-Looking Statements
Information provided in this press release may contain statements
relating to current expectations, estimates, forecasts and projections
about future events that are "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally relate to the Company's plans,
objectives and expectations for future operations, including its
projected results of operations and the expected timing of expanding its
manufacturing facilities. These forward-looking statements are based
upon management's current estimates and projections of future results or
trends. Actual results may differ materially from those projected as a
result of certain risks and uncertainties. These factors include, but
are not limited to: the strength of the home renovation and construction
sectors; economic conditions within any of our key existing markets;
actions by our competitors; changes in raw material prices, particularly
polymer resins and pigments; fluctuations in currency exchange rates;
the success of our expansion efforts in the United States; the operation
of our U.S. plant; the outcome of silicosis claims and the claim by our
former quartz processor; unpredictability of seasonal fluctuations in
revenues; delays in manufacturing and other factors discussed under the
heading "Risk Factors" in our most recent annual report on Form 20-F and
other documents filed with the Securities and Exchange Commission. These
forward-looking statements are made only as of the date hereof, and the
Company undertakes no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events or
otherwise.
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For Caesarstone Ltd.
James Palczynski, +1 203-682-8229
Investor
Relations
jp@icrinc.com
Source: Caesarstone, Ltd.
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