YAVNE, Israel, Jan. 4, 2018 /PRNewswire/ -- Orbotech Ltd. (ORBK) (the "Company" or "Orbotech"), a leading global supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products, today announced that the Board of Directors has named Mr. Alon Rozner as Orbotech's new Corporate Vice President and Chief Financial Officer, replacing Mr. Ran Bareket in that position, effective immediately.

Mr. Bareket is leaving the Company for personal reasons and will be returning to the United States with his family to pursue other opportunities. To facilitate an orderly transition, Mr. Bareket will remain available to the Company until February 28, 2018.

Mr. Rozner has been with Orbotech since 2007, serving in a broad range of senior finance, business and operational positions throughout the Company. Since March 2017, Mr. Rozner has held the title of Corporate Vice President Customer Support and Business Processes in Orbotech Ltd., in which capacity he has, among other matters, been assuming responsibility for the Company's corporate governance and compliance. Before that, Mr. Rozner was Vice President of Finance and Business Services of Orbotech Pacific Ltd. in Hong Kong for almost five years, with responsibility for the finance, budget, operations and information technology of subsidiaries that account for approximately 70% of Orbotech's business. From 2007 to 2012, he served as Vice President Finance in the Company's FPD Division.

Commenting on this announcement, Mr. Asher Levy, Chief Executive Officer, stated: "I would like to thank Ran for his efforts and valuable contribution to Orbotech over the last three and a half years and wish him and his family well in their return to the United States." Mr. Levy added: "Alon has worked closely with the Company's senior management over recent years in fulfilling his substantial duties in Orbotech, and we are very pleased to have him assume this even greater role in the management of the Company. His expertise in finance, operations and compliance activity within Orbotech, as well as his extensive knowledge of the Company's business and customer support operations gained from highly successful years in the field, make him an outstanding choice for Chief Financial Officer."

Before joining Orbotech, Mr. Rozner served as the Chief Financial Officer of Wintegra Inc. from 2005 to 2007, after having held other senior finance positions with that company, including Director of finance and Financial Controller, between 2001 and 2005. From 1998 to 2001, Mr. Rozner worked as an accountant at Kost Forer Gabbay & Kasierer (now a member firm of Ernst & Young Global Limited), where he was responsible for private and public company accounts, including Nasdaq-listed companies operating in the technology and communications industries. Mr. Rozner is a certified public accountant and received his bachelor's degree in business administration and accounting from The Israeli College of Management.

Mr. Levy, Mr. Amichai Steimberg, President and Chief Operating Officer, and Mr. Rozner will present at the 2018 Needham Growth Conference on January 17, 2018 at the Lotte New York Palace. The presentation is scheduled for 16:50, Eastern Time and will be webcast on the Investor events page of the Orbotech Ltd. website. A replay of the webcast will remain available for 90 days.