OTI Names New CEO, as Two Key Board Members Resign and Share Price Struggles

NFC Times Exclusive Insight – Israel-based On Track Innovations is undergoing a major change of leadership after its board of directors named a new CEO yesterday and two major players on the board abruptly resigned.

Shlomi Cohen, former CEO of online video streaming company RayV, is OTI’s new CEO, coming from outside of the NFC and contactless reader vendor. He replaces Ofer Tziperman, who resigned earlier this year. On the day Cohen’s appointment was announced, yesterday, former board chairman and OTI America CEO Dimitrios Angelis, who had spearheaded the company’s patent suit against T-Mobile USA; as well as board member Charles Gillman, who helped lead a successful proxy battle in 2012; resigned, effective immediately. That leaves OTI with only five board members, Eileen Segall, Mark Stolper, John Knapp, and Bill Anderson, along with chairman Dilip Singh.

Angelis and Gillman stated no reason for their departures, although OTI said in a press release that “the resignations did not involve any disagreement with the company.” Both had been part of the group of investors who ousted co-founder and CEO Oded Bashan in late 2012. Gillman, one of the leaders of that group, referred questions from NFC Times to an OTI spokesman, who was unavailable immediately for comment. Angelis had remained a regular board member along with heading up OTI America, after earlier stepping down as chairman. 

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