Sapiens Appoints New Executives to Support Transformation and Global Growth

Sapiens announced a series of senior leadership appointments that will support the company's next phase of transformation and global growth. These appointments follow the successful closing of Sapiens' acquisition by Advent. The transaction was first announced on August 13, 2025, was approved by Sapiens shareholders at the Extraordinary General Meeting on November 19, 2025, and closed on December 17, 2025, following the satisfaction of required regulatory approvals and other customary closing conditions. With the completion of the transaction, Sapiens common stock has ceased trading and will no longer be listed on NASDAQ and the Tel Aviv Stock Exchange. Sapiens will now operate as a privately held company under Advent's ownership, with Formula retaining a minority stake in the company. After twenty years leading Sapiens, Roni Al-Dor has decided to step down as President and CEO as of December 31, 2025. The Board has appointed Mike Ettling as Executive Chairman, bringing unified leadership to guide Sapiens through this transition period while the Board conducts a search for the company's next permanent CEO. Mike will also act as the interim CEO pending this appointment. As Sapiens becomes a private company, Roni Giladi will be stepping down from his public-facing role as CFO at Sapiens. He is handing over his responsibilities to Paul Wheeler and supporting Paul in the transition.