Israel Aerospace Industries Ltd. (IAI) Board of Directors, chaired by Harel Locker, approved the search committee's recommendation to nominate Mr. Boaz Levy as IAI's Chief Executive Officer (CEO). Levy succeeds Maj. General (ret.) Nimrod Sheffer, who stepped down as CEO on October 31, 2020. The nomination will be submitted to the Minister of Defense, Lt. General (ret) Benjamin Gantz, and the Minister for Cyber & National Digital Matters, Dudi Amsalem who supervising the Israel Government Companies Authority.

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 defense market and understands our customer's needs. The past year marks a record in IAI's financial results- we exceeded annual revenue of $4B 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."

Boaz Levy, said, "I thank IAI's Board of Directors for the trust in selecting me as CEO. It is an honor 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."