HERZLIYA, Israel - Cognyte Software Ltd. (NASDAQ: CGNT), a company specializing in investigative analytics software, has announced the upcoming addition of Ron Shvili and Sarit Sagiv to its Board of Directors, effective May 1, 2024. The new appointees are poised to bring their extensive experience in technology and finance to the board, succeeding Karmit Shilo and Zvika Naggan, who will be departing from their roles.
The Chairman of the Board at Cognyte, Earl Shanks, expressed gratitude towards the outgoing directors for their dedication and contributions to the company's mission. He also welcomed the incoming directors, stating that their expertise is expected to be instrumental in guiding Cognyte towards its goals of long-term profitable growth.
Ron Shvili's background includes a range of high-level positions in the telecommunications and financial sectors, as well as involvement with startups in various technology industries. His previous roles include Executive Vice President and CTO at Phoenix Holdings and CTO of Cellcom. Additionally, Shvili is a retired Colonel from the Israeli Defense Force, where he led a research division in DDR&D, focusing on advanced communications, cyber, and AI technologies.
Sarit Sagiv brings a wealth of experience from her time as a board member and executive in various companies. She is a member of the Investments Committee of Phoenix Insurance and holds board positions at Nova Ltd. (NASDAQ and TASE: NVMI) and OPC Energy Ltd. (TASE: OPCE). Her past roles include General Manager of the Global Business Division at Amdocs (NASDAQ:DOX) and CFO positions at Nice Ltd. and Retalix Ltd.
Cognyte Software provides investigative analytics software to governments and other organizations worldwide, aiding in investigations and decision-making processes related to national security and criminal activities.
The announcement of the board changes is based on a press release statement issued by Cognyte Software.
InvestingPro Insights
As Cognyte Software Ltd. (NASDAQ: CGNT) prepares to welcome new expertise to its Board of Directors, investors may be interested in key financial metrics and analyst insights that could influence the company's trajectory. Here are some InvestingPro Insights to consider:
InvestingPro Data indicates a market capitalization of $572.84 million, reflecting the company's current valuation in the market. Despite challenges, CGNT has shown a strong return over the last year with a 135.26% increase, and it continues to trade near its 52-week high at 95.43% of that value.
InvestingPro Tips suggest that CGNT holds more cash than debt on its balance sheet, which can be a positive indicator of financial stability. However, analysts have tempered expectations, as indicated by two analysts revising their earnings downwards for the upcoming period, and they do not anticipate the company will be profitable this year.
For investors looking to delve deeper into CGNT's financial health and future prospects, there are additional InvestingPro Tips available at https://www.investing.com/pro/CGNT. Utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 11 more tips ready to be explored, investors can gain a comprehensive understanding of Cognyte Software's potential for long-term profitable growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.