Misgav – The new chief executive officer at Tefron is an industry veteran equipped with the experience of turning around troubled companies.

Amit Meridor assumed the position on January 21, 2010, rounding off what has been a troubled period for the Israeli seamless and activewear maker. Earlier this month, the company narrowly avoided closure after an eleventh hour agreement with its lenders finally brought a degree of financial stability.

Previously, Meridor served as the CEO for CMT Medical where he executed a turnaround plan for the company, skills which the Board of Directors at Tefron will hope will contribute greatly to the company’s badly needed new phase of growth and development.

Amit gained his textile industry experience working for Nilit Fibers Ltd. Serving in a broad range of key managerial positions between 1990 and 2005, including the management of manufacturing processes and sales, Amit worked closely with Tefron and most other seamless producers around the world gaining knowledge of the sector.

Following his work at Nilit, Meridor served for three years as VP for business development, sales and marketing at an esthetic device manufacturer, Syneron Medical.

“Tefron has a strong international reputation for innovation on which I intend to capitalise as we rebuild customer and investor confidence in our ability to deliver the best products in the market,” said Meridor. “As part of the team, I look forward to leading the company's expanding sales and international diversification efforts and to forging new relationships to expand Tefron's footprint in the industry.”