Israel Aerospace Industries’ (IAI) board of directors has nominated Boaz Levy to become the company’s chief executive officer.

He will succeed Nimrod Sheffer, who stepped down from the role on 31 October 2020.

Levy has served at IAI for more than 30 years. He was appointed as general manager of IAI’s air defence division in 2010 and three years later became vice president of the Systems Missiles and Space Group.

IAI noted that Levy had “pursued groundbreaking technological developments that are cornerstones of Israel’s defence” over the course of his career.

IAI’s chairman of the board Harel Locker said: “Following a thorough and detailed evaluation of candidates for the position, the board of directors decided unanimously to approve the search committee’s recommendation to nominate Boaz Levy as CEO.

“Levy has successfully managed the Systems Missiles and Space Group – IAI’s most profitable group that in recent years has made technological and financial groundbreaking achievements. Boaz knows the domestic and international defence market and understands our customers’ needs.

“The past year marks a record in IAI’s financial results – we exceeded annual revenue of US$4 billion for the first time. Managing an enterprise like IAI is a complicated task. The board of directors trusts Boaz’s capabilities and experience to continue the momentum and transformation the company is going through, facing the future commercial and technological challenges.”

Levy commented: “I thank IAI’s board of directors for the trust in selecting me as CEO. It is an honour to lead this enterprise that has been my home for decades. I plan to lead the company in full cooperation with management to benefit our customers, employees, partners, and stakeholders, locally and abroad.

“The challenge I face is great. IAI has transformed in recent years, but we still have a considerable way to achieve the company’s potential and strengthen our position in existing and new markets.”