Top Image Systems Announces Dr. Ido Schechter Steps Down as CEO

Top Image Systems

and BPM and MIP solutions provider, today announced the execution of a second phase of organizational and management changes aimed to achieve its strategic goals for 2014. The three-prong program includes a merge of geographical branches that will pool resources; optimized sales and marketing via expanded lead generation and inside sales activities; and management changes aimed largely at driving TIS' growth in the US. Dr. Ido Schechter will step down as Chief Executive Officer and will remain on the Board of Directors and a shareholder of the Company. Izhak Nakar, Top Image's founder and Active Executive Chairman, who currently leads the Investor Relations, Corporate Venture and strategic business development efforts, will in the interim move his primary business location to the U.S. and commence a search for a U.S.-based CEO. This development is in alignment with the company's expectation that inaugural U.S. revenue for 2013 will exceed 10% and with its strategy to make the U.S. one of its main markets; concurrently Michael Schrader, CTO and SVP, Global Solutions, has been