viewTelit Communications PLC

Telit Communications hires Yosi Fait as new finance director


Telit Communications (LON:TCM) has hired Yosi Fait as its new finance director. The new director will replace Yariv Dafna, who is stepping down from the board but will remain as chief financial officer.

Fait is a certified public accountant, he began his career at Ernst & Young Israel before moving on to hold a number of executive positions with private and public companies. Notably he has previous experience in the telecommunications industry through his role as chief financial officer at Israel’s first mobile phone operator, Pelephone Communications.

Chief executive Oozi Cats said: "It is with great pleasure that I welcome Yosi to Telit's board of directors.

“I am confident that Yosi's vast experience as CFO of a mobile network operator and as CEO of publicly traded companies will further strengthen Telit's board and will focus our continuous efforts to increase shareholder value.”

Going forward Telit said that Dafna will be responsible for the day-to-day operations of the group’s finance function, while Fait will have overall responsibility for its finance strategy and business development functions.

Telit is a world leader in machine-to-machine (M2M) communication, which very simply allows machines to talk to each other via a wireless network. It is the only pure play M2M company listed in London and it is one of the market’s big three players.

M2M communications has multiple applications. The technology will allow new electricity and gas meters installed in a house to remotely send data back to a utility provider and cars to send information to insurance firms or to the nearest search and rescue team. 

In fact, technology exists today to allow your car to talk to your mobile phone, or your fridge to your stove. And as smaller and cheaper computers are designed to process more data while consuming less power, so the M2M market will continue to expand and the number of applications that will be completed remotely will increase exponentially.

According analysts forecasts the market could be worth $1.5 billion by 2014.

Quick facts: Telit Communications PLC

Price: 128 GBX

Market: AIM
Market Cap: £169.84 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Phunware signs deal to use their technology for new app with City of...

Phunware (NASDAQ) COO Randall Crowder and Jeff Wagner, the Mayor of Pasadena, Texas joined Steve Darling from Proactive with news Phunware is going to deploy it SmartCity solution to Pasadena to help improve citizen engagement during the pandemic. Crowder telling Proactive why this app can so...

39 minutes ago

2 min read