Israel Aerospace Industries Announces New CEO

The board of Israel Aerospace Industries (IAI), chaired by Harel Locker, approved this evening the recommendation of IAI's search committee and has named Major-General (Res.) Nimrod Sheffer, IAI’s VP of Strategy and R&D, as IAI’s new CEO. Sheffer will replace Mr. Joseph Weiss, who is stepping down after reaching the statutory retirement age. The nomination is now pending the approval of the State Companies Authority and the Defense and Finance ministers.

This is the first time that IAI is naming a CEO who is not an IAI alumnus. Sheffer joined IAI recently from the highest ranks of military command and management. He retired from Israel Defense Forces (IDF) two years ago after a long career. In his most recent role, he headed the planning division of the IDF’s general staff. In that role, Sheffer was responsible for drafting and executing the IDF’s work plan, including the shaping of long term strategic processes and managing the army’s resources. Among others, Sheffer has led the talks with Israeli government on the defense budget, IDF’s streamlining processes, renewal and technological development project and the external relations of the military. In his previous roles, Sheffer served as deputy commander of Israel's air force and headed an aerial division. Combat pilot by training, Sheffer holds first degree in geophysics from Tel Aviv University and master’s degree in Public Administration and Policy from Harvard University.

Harel Locker, IAI chairman said: "IAI is facing multiple, significant challenges in coming years. Among others, it will be required to design a valid strategy for the technological and defense reality, which is changing at immense speed, develop new products and penetrate new markets. The Company also needs systematic, measureable and fundamental management capability and its organizational DNA needs to be refreshed. Our ties with the defense industry must be reinforced, as this is the basis for our operations, in Israel and abroad alike. Nimrod is the right man to handle these challenges. He has grown in a top-quality, complex organization with excellent management and leadership norms. He climbed to the top and continued to IDF’s most senior strategic position. Nimrod is also intimately familiar with the needs of IAI’s customers in Israel and overseas. I am confident IAI will grow under his leadership and will emerge ready for future challenges. I would like to take this opportunity to thank Yossi Weiss for six productive, intricate and stormy years at IAI’s leadership team. Yossi is leaving a company with the largest backlog in its history, valued at NIS 40 billion, and a series of noteworthy technological and business accomplishments. We are highly appreciative of his contribution.”