Israel Aerospace Industries Ltd. (IAI) has appointed Boaz Levy as its new Chief Executive Officer (CEO).
A decision was made by the Board of Directors, chaired by Harel Locker following a search committee’s recommendation to nominate Levy who succeeds Maj. General (retd.) Nimrod Sheffer, who stepped down as CEO on October 31, 2020.
The nomination will be submitted to the Minister of Defence, Lt. General (retd) Benjamin Gantz, and the Minister for Cyber & National Digital Matters, Dudi Amsalem who supervise the Israel Government Companies Authority.
The past year marks a record in IAI’s financial results, it exceeded annual revenue of US $ 4 billion for the first time. Read it here
The India connect
Levy is also responsible for some of the largest defence export sales in Israel’s history, including the sale of the Barak Weapon System worth over US $ 6 Billion. From 2006 to 2010 he headed the Barak-8 missile program, which evolved into one of the world’s most advanced air defense systems and became one of IAI’s most significant growth engines. India is an important partner in the Barak-8 programme, the missile in installed in all frontline warships of the Indian Navy.
Indian state-run Bharat Dynamics Limited has been tasked to series-produce the Barak-8. The missile can is designed to destroy any anti-ship missile. The key to Barak 8’s ability to intercept incoming missiles is the Israel-made MF-STAR radar system which is capable of simultaneously tracking multiple threats.
The rise of Boaz Levy
Boaz Levy’s career at IAI spans over 30 years. In 1990 he joined the company as an engineer for the Arrow Project and in 1999 became the project’s chief engineer. From 2003 to 2006, Levy headed the induction of the Arrow-2 into operational service after going through numerous successful test flights.
In 2010, Boaz Levy was appointed as general manager of IAI’s air defense division and in 2013 he became Vice President of the Systems Missiles and Space Group, leading the group to become IAI’s most profitable and successful business unit.
Over the years, Levy has pursued groundbreaking technological developments that are cornerstones of Israel’s defence. Several of those programs have won the Israel defence prize presented annually by the President of Israel to people and organizations who made significant contributions.
Levy knows the domestic and international defense market and understands our customer’s needs, Locker added.
On his part Levy said “I plan to lead the company in full cooperation with management to benefit our customers, employees, partners, and stakeholders, locally and abroad. 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.”