BrainsWay CEO to Step Down
Nasdaq and Tel Aviv-listed Brainsway develops headsets that use magnetic stimulation to treat brain disorders
Nasdaq and Tel Aviv-listed BrainsWay Ltd. announced Thursday the resignation of its CEO Yaacov Michlin. The company’s board of directors intends to appoint a yet to be named U.S.-based CEO as Michlin’s successor. Until the new CEO will be announced, BrainsWay co-founder and chairman of the board David Zacut will serve as interim CEO, the company said in its statement.
Founded in 2003, BrainsWay develops headsets that use magnetic stimulation to treat brain disorders. The company has offices in both Jerusalem and the U.S. In April, BrainsWay completed its initial public offering of its American Depositary Shares on Nasdaq, raising its target of $27.5 million.
BrainsWay's technology. Photo: BrainsWay