Tel-Aviv, November 4th , 2020 – Rafael Advanced Defense Systems Ltd. announces that it has appointed Brig. Gen. (Ret.) Moshe Lipel as Executive Vice President of Finance and Control. Mr. Lipel will replace Mr. David Vaish who is retiring after 15 years as the company's CFO. Mr. Moshe Lipel holds a Bachelor of Business Administration degree from Bar Ilan University, specializing in Finance. He has served in a number of positions is Israel's defense establishment, including as financial advisor to the Chief of Staff of the IDF, and as head of the Defense Ministry's budget department.

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For the last 13 years, Lipel has served as CFO of Elta Systems Ltd. (an IAI subsidiary).

President and CEO of Rafael, Mr. Yoav Har-Even, congratulated Lipel on his appointment and noted that Lipel brings with him vast experience and a deep understanding and knowledge of the various bodies and organizations with which Rafael works, and expressed confidence in his success.

Har-Even thanked Mr. David Vaish for his service at Rafael over the last 15 years, and for his significant contribution to its activities and its financial robustness.

More Information www.rafael.co.il