Ability Inc. Announces Resignation of Five Board Members; Controlling Shareholders Reiterate Their Commitment to the Company
ABILITY INC ORDINARY SHARES (ABIL)
US:NASDAQ Investor Relations:
prnewswire.com/news-releases/ability-inc-reports-third-quarter-financial-results-300362843.html
Company Research
Source: PR Newswire
TEL AVIV, Israel, April 11, 2017 /PRNewswire/ -- Ability Inc. (NASDAQ: ABIL) (the "Company"), a leading provider of innovative tactical communications intelligence solutions, yesterday announced that on April 9, 2017 its independent directors, Amnon Dick, Efraim Halevy, Amos Malka, Meir Moshe and Shalom Singer tendered their resignation from the Company's Board of Directors effective immediately. The Company is in the process of identifying replacement board members.Anatoly Hurgin, Ability's Co-Founder and Chief Executive Officer, commented: "Alexander Aurovsky and I, who together co-founded Ability and hold a majority of its shares, remain committed to the Company." Mr. Hurgin acknowledged that the Company is facing significant challenges, and further noted: "We are taking steps to reduce costs and position Ability for future growth. As part of this effort, both Alexander and I have agreed to reduce our salaries by 50%, and are exploring additional cost-saving measures. We will conti
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