Josef Mandelbaum Joins IncrediMail as Chief Executive Officer
07 Luglio 2010 - 2:00PM
Business Wire
IncrediMail Ltd. (NASDAQ:MAIL), an Internet company, announced
today that Josef Mandelbaum, a veteran consumer internet executive
and currently CEO of AG Intellectual Properties, an American
Greetings Corporation (NYSE:AM) company, is joining IncrediMail as
its new chief executive officer. Mr. Mandelbaum will assume his
position August 5th.
Mr. Mandelbaum succeeds founder Ofer Adler, who is stepping down
as CEO but will remain on as Chief Product Officer and Director of
the Company. In just over two years at the helm, Mr. Adler
successfully repositioned IncrediMail and significantly grew both
revenue and profit.
As one of the first employees in the AG Intellectual Properties
group at American Greetings when he joined 15 years ago, Mr.
Mandelbaum was instrumental in establishing American Greetings as
one of the leaders in the online content industry and became CEO of
the group in 2000. Mandelbaum’s executive experience includes
growing and managing a team of 350 associates in multiple
countries, developing numerous partnerships with industry leaders
in the internet, mobile and entertainment industries, and in
consummating several acquisitions including: BlueMountain.com,
Egreetings.com and Webshots. Last year AG Intellectual Properties
had revenues of $118 million and operating income of $20
million.
Mr. Mandelbaum holds a BA in economics from Yeshiva University
and an MBA from the Weatherhead School of Management at Case
Western Reserve University.
Commenting on the appointment, Mr. Adler said, “We are very
excited to have an industry veteran like Josef join us and lead the
next chapter of IncrediMail’s success story. As a profitable and
growing operation, IncrediMail is poised to explore new
opportunities in emerging markets, such as social networking and
the mobile Internet. Under Josef’s leadership, we intend to further
extend our organic growth, explore new possibilities in product
development, and actively seek acquisitions. Josef is clearly the
right person to lead this phase, and I am looking forward to
working with him in the future to increase shareholder value.”
“IncrediMail’s popular internet products, innovative team,
strong balance sheet and cash flow make it well positioned for
extensive growth both organically and through acquisitions,” said
Mandelbaum. “Ofer has done an outstanding job in creating
IncrediMail and turning it into a very profitable platform. I am
very excited about the opportunity to lead IncrediMail to the next
level, and strongly believe there is a real opportunity to enhance
shareholder value and create new possibilities for our consumers,
partners and employees.”
About IncrediMail Ltd.
IncrediMail Ltd. (NASDAQ:MAIL) is an internet company that
develops customized, downloadable graphic consumer applications
used to generate search related revenues and designs, markets and
delivers high end personal desktop software. The Company’s award
winning e-mail client product, IncrediMail Premium, is sold in over
100 countries in 10 different languages. Other products include,
HiYo a graphic add-on to instant messaging software, Magentic, a
wallpaper and screensaver software, and PhotoJoy, software for
presenting digital personal photos.
Forward-Looking Statements
This press release contains historical information and
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995 with respect to the
business, financial condition and results of operations of the
Company. The words "believe," "expect," "intend," "plan," "should"
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are subject to risks and uncertainties. Many factors could cause
the actual results, performance or achievements of the Company to
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forward-looking statements, including, among others, changes in the
markets in which the Company operates and in general economic
and business conditions, loss of key customers and unpredictable
sales cycles, competitive pressures, market acceptance of new
products, inability to meet efficiency and cost reduction
objectives, changes in business strategy and various other factors,
both referenced and not referenced in this press release. Various
risks and uncertainties may affect the Company and its results of
operations, as described in reports filed by the Company with the
Securities and Exchange Commission from time to time. The Company
does not assume any obligation to update these forward-looking
statements.
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