Telit Communications Finance Director Michael Galai Steps Down

1st Jul 2010 10:59

DON (Dow Jones)--Telit Communications PLC (TCM.LN), a global wireless communications developer and distributor, said Thursday that Michael Galai, finance director and general counsel, will be stepping down from the board of directors due to an increased workload in his other commitments with immediate effect. MAIN FACTS: -Galai will remain as VP Legal & General Counsel to the company. -Yariv Dafna, the company's CFO, will be appointed to the board of directors with immediate effect. -Shares closed Wednesday at 31.50 pence. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [email protected] (END) Dow Jones Newswires July 01, 2010 05:59 ET (09:59 GMT)