Elbit Systems Announces New Appointments: Joseph Gaspar Appointed Senior EVP - Business Management and Dr. Yaacov (Kobi) Kagan Appointed EVP and CFO

HAIFA, Israel, Sept. 1, 2021 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that, after 20 years as Chief Financial Officer ("CFO") of the Company, and having held various managerial positions in Elbit Systems and its subsidiaries around the world for many years prior to that, Joseph Gaspar will become Senior Executive Vice President ("EVP") - Business Management.

Dr. Kobi Kagan, currently serving as Deputy General Manager and Senior Vice President -  Finance and Control of Elbit Systems Land, will replace Mr. Gaspar as EVP and CFO.

The appointments will become effective as of April 1, 2022.

Dr. Kagan was appointed to his current position in Elbit Systems Land in 2018, and from 2010 to 2018 he served as Elbit Systems Land and C4I's Vice President - Finance and Control. Dr. Kagan joined Elbit Systems in 2008 as a Sales Director at Elbit Systems Land and C4I. Prior to that, Dr. Kagan served for 26 years in the Israeli Navy and in the Israeli Ministry of Defense, where he holds the rank of a Naval Captain (reserves), in a variety of positions, including the Head of the Navy's budget department. Dr. Kagan holds a bachelor of arts degree in economics and business administration, an MBA in business administration and a PhD in economics from Bar-Ilan University, and is a graduate of the Harvard University Business School's Advanced Management Program.

Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, said: "With his multi-disciplinary capabilities and vast experience, Joseph Gaspar has played a key role in the Company's success throughout the years and has contributed significantly to the Company's financial achievements. I am pleased Joseph will continue to take a leading position in the Company as Senior EVP - Business Management. I am also pleased to appoint Kobi Kagan as the Company's new CFO and believe his skills and experience will continue to be a great asset to Elbit Systems. I wish Joseph and Kobi success in their new positions and am confident they will contribute significantly to the Company's growth and excellence in the future."

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings.  The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

SOURCE Elbit Systems Ltd

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