NEW YORK, Dec. 14 (UPI) -- New York-based explosives detection developer TraceGuard Technologies Inc. announced that its chief executive officer, Ehud Ganani, plans to step down.
Ganani has been CEO of TraceGuard since February 2006, after joining the company as chairman in 2005. Officials say Ganani, who will continue to serve as chairman of the board, plans to step down as CEO at the expiration of his contract in February 2008.
"TraceGuard has accomplished a tremendous amount in the short period that I was fortunate to be the company's CEO," Ganani said in a statement. "We have succeeded in transforming Automated Trace Extraction from a concept into a working product through CompactSafe, which is now being evaluated by several key homeland security customers, and which has the potential to significantly improve aviation security and operations worldwide."
Company officials say Ganani may extend his tenure as CEO in order to assist TraceGuard in recruiting and transitioning to a new chief executive.
"We anticipate that Dr. Ganani's successor will have an increased focus on marketing and operations, especially in our core markets, as TraceGuard moves from the development stage into the commercialization phase in 2008," said David Ben-Yair, TraceGuard chief financial officer and chief operating officer.
