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PERI...New CEO announced...Perion Appoints Seasoned Technology Executive Doron Gerstel as Chief Executive Officer

GlobeNewswire•January 22, 2017
New CEO will focus on accelerating Perion’s competitive advantage and growth

TEL AVIV, Israel, Jan. 23, 2017 (GLOBE NEWSWIRE) -- Perion Network Ltd. (PERI), a leader in advertising technology solutions for brands and publishers, announced today the appointment of Doron Gerstel as Chief Executive Officer (CEO) effective April 2, 2017. Mr. Gerstel comes to Perion with over 20 years of executive-level experience in technology companies. Perion is the fifth company which Mr. Gerstel will lead as CEO. In his last three positions at Panaya, Nolio Ltd., and Syneron, he spearheaded new strategic directions which led to significant growth and development.

“To guide Perion in its next phase of growth, it was important that we select a CEO with extensive experience in technology, expansion in competitive markets and a proven ability to create shareholder value,” said Alan Gelman, Chairman of the Board of Directors. “Doron was unanimously chosen by the Board of Directors as the perfect person to assume this leadership role. His decades of success and demonstrated expertise will further drive Perion to new heights, and I want to congratulate and welcome him to the company.”

Mr. Gerstel has served as CEO of technology companies since 1999, establishing a proven track record in driving growth. As CEO of Panaya, he initiated strategic changes which led to an increase in annual revenue, higher customer renewal rates, and stronger partnerships, culminating in Panaya’s acquisition by IT giant Infosys in 2015. Prior to Panaya, Mr. Gerstel served as CEO of Nolio Ltd., where he expanded the company’s field operation and product delivery capabilities to support Fortune 1000 customers. Nolio was acquired by CA Technologies in 2013, under Mr. Gerstel’s leadership. Additionally, he has held CEO positions at Syneron and Zend Technologies. Mr. Gerstel holds a B.Sc. in Economics and Management from the Technion, and an MBA from Tel Aviv University.

“I’m honored to join Perion to further strengthen its technology advantage in the market, increase its operational efficiency and accelerate growth,” Gerstel said. “Perion has transformed from a single-product startup company into a global technology company with diversified revenues of over $300 million, and I plan to continue this impressive track record, expand the differentiated Undertone digital advertising capabilities and drive growth. I look forward to working with the Board, Perion’s management, and its strong talent around the world to create meaningful value for Perion’s clients, partners, investors and other stakeholders.”

Gerstel succeeds Josef Mandelbaum, following Perion’s announcement from September 27, 2016, that he would step down as CEO in the coming months. Perion CFO Yacov Kaufman will serve as interim CEO of the company to ensure a smooth transition. "I want to take this opportunity to thank Josef for all his years of service and wish him well in his future endeavors," said Gelman.

About Perion Network Ltd.
Perion is a global technology company that delivers high-quality advertising solutions to brands and publishers. Perion is committed to providing outstanding execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform. More information about Perion may be found at http://www.perion.com. Follow Perion on Twitter @perionnetwork.
http://finance.yahoo.com/news/perion-appoints-seasoned-technology-executive-071629809.html