Telit announces CEO Cats has resigned and Board is to be reinforced with three more non-execs

Telit Communications PLC, a global enabler of the Internet of Things (IoT), announced that Oozi Cats, has resigned from the Board and his employment with immediate effect. The independent review has found that the evidence shows that an indictment was issued against Oozi Cats in the US and that this fact was knowingly withheld from advisers. Yosi Fait will continue as interim chief executive officer. The Board intends to appoint three additional independent non-executive directors as soon as practicable to reinforce it, one of whom will become chairman. It is expected that the non-executive appointments will be UK based and have previous PLC Board experience.