Jacob Shulman CFO, Mellanox

Mellanox Technologies, Ltd. announced that Michael Gray, the company’s CFO, will retire from his current position effective November 5, 2012.

Gray has served as the company’s CFO since December 2004.

The company also announced that its Board of Directors has appointed Jacob Shulman, Mellanox’s VP of finance, as the company’s new CFO, effective November 5, 2012.

The transition process in the finance department from Gray to Shulman’s leadership will commence immediately, and Gray’s day-to-day employment with the company will continue until February 4, 2013.

Gray has no plans to join another company in a similar CFO capacity and intends to spend more time with his family in Oregon.

 Shulman has more than 19 years of professional financial experience. In his current position, he has served as the company’s VP of finance since March 2012. He joined Mellanox in June 2007 as the company’s corporate controller. From 2005 to 2007, he was corporate controller at Atrica, a telecom company that was purchased by Nokia Siemens. Prior to that, he spent seven years in senior finance positions, including controller and divisional CFO positions with Matav Cable Systems, Thyssenkrupp and Guava Technologies. His background also includes five years of audit-related work with Ernst & Young LLP and Deloitte & Touche LLP.

Eyal Waldman, the company’s chairman, president and CEO, Jacob Shulman and Michael Gray will conduct a non-deal road show in Boston, MA on September 20, 2012 and in New York, NY on September 21, 2012.

"On behalf of the Board of Directors, we wish Michael well on his upcoming retirement and thank him for eight years of outstanding service directing the finance and investor relations teams from their start-up stage, through the initial and additional public offerings, and to the market leadership position Mellanox maintains today," said Eyal Waldman. "In addition, I am pleased to congratulate Jacob on a well-earned promotion to CFO. I look forward to working with Jacob to continue Mellanox’s reputation for excellence in financial reporting," Waldman further stated.

"I am very proud of the contributions and accomplishments we have made at Mellanox in the eight years I was privileged to serve as its CFO. I am also extremely grateful for the support provided by the board, the executive team, my immediate group, our employees and investors. Jacob is an excellent choice to lead the finance team through the company’s next growth stages and I look forward to supporting him throughout this transition period," said Gray.

"I am honored to follow in Michael’s footsteps and proud to be appointed as Mellanox’s CFO," said Shulman.

"I look forward to working closely with Eyal and the board and leading the company’s finance team in building additional success for our shareholders, customers and partners," Shulman further stated.