A2Z Names Gadi Graus Chief Executive Officer, Effective immediately

Author: Benzinga Newsdesk | April 18, 2024 08:31am

Names Gadi Graus Chief Executive Officer

Appoints U.S.-based financial executive, Reeves Ambrecht, to Board as a director

TEL AVIV, ISRAEL / ACCESSWIRE / April 18, 2024 / A2Z Smart Technologies Corp. ("A2Z" or the "Company") (NASDAQ:AZ) ($AZ), a global leader in innovative technology solutions, today announced that Mr. Gadi Graus has been appointed as Chief Executive Officer of the Company, and Mr. Reeves Ambrecht has been appointed to the Board of Directors.

Appoints New Chief Executive Officer

Effective immediately, the Board of Directors of the Company appointed Mr. Gadi Graus to the role of Chief Executive Officer of A2Z, in addition to his role as CEO of its subsidiary Cust2Mate, Ltd. As CEO of Cust2Mate, Mr. Graus succeeds Mr. Guy Mordoch. As CEO of A2Z, Mr. Graus succeeds Mr. Bentsur Joseph who will continue to serve as Chairman of A2Z.

Before being named CEO of A2Z and Cust2Mate, Mr. Graus had been President and Director of A2Z and Director of Cust2Mate. In this capacity, Mr. Graus was responsible to develop the corporate strategy of A2Z and its subsidiaries, identify potential joint venture partners and targets for acquisition and assist in their integration and support the commercial development of the technologies of A2Z.

Mr. Bentsur Joseph, Chairman of A2Z, commented, "By appointing Gadi to the role of CEO, we are streamlining our corporate structure and better positioning for growth. Gadi is a dynamic leader with strong business acumen and more than 30 years of experience. He has an excellent track record of delivering on a global scale and is well-positioned to take A2Z Cust2Mate to the next level, scaling up our operations and expanding our global footprint. Gadi has been instrumental in developing the corporate strategy for Cust2Mate and understands what it takes to scale an operation across all facets including sales, delivery and manufacturing. He will focus on excellence in execution, the pursuit of larger deals and ensuring that the investments we are making will enhance shareholder value."

Mr. Gadi Graus, Chief Executive Officer of A2Z and Cust2Mate, commented, "Cust2Mate has a talented team, a fundamentally sound business model and an innovative product. The global smart cart market represents a potential multi-billion-dollar market opportunity, and our carts are already serving thousands of shoppers every day. With this proven technology and the additional $5.8 million in capital raised this month, we are ready to scale our operations globally and meet the growing demand from retailers. I am delighted to have the opportunity to lead the Company through this next phase in its evolution."

Mr. Bentsur Joseph, Chairman of A2Z, concluded, "The board and I would like to thank Guy Mordoch for his leadership and contributions to Cust2Mate and wish him every success in his future endeavors."

Names New Director to the Board of Directors

Effective immediately, Mr. Reeves D. Ambrecht has been appointed to the Board of Directors. Mr. Ambrecht's appointment expands the board from 5 to 6 directors.

Mr. Bentsur Joseph, Chairman of A2Z, commented, "We are thrilled to expand our Board of Directors and welcome Reeves, a U.S.-based, financially savvy executive, who I am certain will provide valuable insights as we go global with our platform. He has a long and accomplished track record in capital markets advisory and as a private investor."

Mr. Ambrecht joins the Company's board with more than two decades of financial experience. He currently serves as Managing Partner of RDA Enterprises, LLC and as Managing Director of Stillwater Asset Management. Prior to that, he served as Managing Director at The Debt Exchange, where he advised financial institutions on portfolio management and liquidity needs. Mr. Ambrecht began his career as a licensed real estate associate with Cushman & Wakefield where he advised commercial tenants regarding real estate strategies.

Posted In: AZ