Duke Robotics Names Yossi Balucka as CEO and President to Accelerate the Growth and Deployment of Its Strategy
March 26, 2021 at 06:00 AM EDT
Fort Lauderdale, Florida--(Newsfile Corp. - March 26, 2021) - UAS Drone Corp. (OTCQB: USDR), a leader in robotics technology and drone solutions, announced today that its Board of Directors has appointed Yossi Balucka as Chief Executive Officer and President of the Company and its subsidiaries.
Mr. Balucka served for 25 years in various field and headquarters positions in the Israeli Navy and retired as Colonel. Following his retirement from the Israeli Navy, between 2014 and 2016, Mr. Balucka served as a senior executive and management member for retail and customer service at Partner Communications Ltd., one of the leading mobile telecommunications companies in Israel. From 2017 to 2019, Mr. Balucka served as the CEO of Electra Technologies Ltd., a division of Electra Ltd., which is active in the fields of integrated electro-mechanical and construction. Since 2019, Mr. Balucka has been providing global strategic consulting services in the field of defense for international corporations, including Elbit Systems.
Mr. Balucka's leadership appointment is effective immediately, and accordingly, Mr. Sagiv Aharon has stepped down as Chief Executive Officer and President of the Company and will continue to serve as Chief Technology Officer of the company and as a Director.
The board of the Company believes that the position of the Company's CEO now requires additional attributes to successfully execute on the Company's strategy and lead the recently announced collaboration with Elbit Systems Land. The Company believes Mr. Balucka has the proper operational and communication skills and leadership abilities to deliver improved execution and financial performance.
About Duke Robotics:
In June 2020, UAS Drone Corp. (OTCQB: USDR) completed the acquisition of Duke Robotics Inc. Duke Robotics is a forward-thinking company focused on bringing necessary products and solutions to the defense sector. Duke Robotics developed TIKAD, an advanced robotic system designed to serve the growing need for tech solutions in the combat field. The Company's wholly owned subsidiary, Duke Robotics' revolutionary stabilization technology enables remote, real-time and accurate firing of lightweight firearms and weaponry via an unmanned aerial platform (UAV). The proprietary and confidential complex kinematic algorithms address the crucial need of modern warfare to carry weapon on remote to bear on remote hostile targets without risk to the military personnel.
We believe that troops can use TIKAD to handle potentially dangerous situations quickly and efficiently from the air. This technology also allows troops to potentially disarm a situation remotely, without ever deploying a ground presence.
This press release contains forward-looking statements. Words such as "future" and other similar expressions or future or conditional verbs such as "will" are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. For example, when we discuss the belief that the position of the company's CEO now requires additional attributes to successfully execute on the company's strategy and lead the recently announced collaboration with Elbit Systems Land, the belief that Mr. Balucka has the right proper operational and communication skills and leadership abilities to deliver improved execution and financial performance, and that troops can use TIKAD to handle potentially dangerous situations quickly and efficiently from the air, we are using forward looking statements. Accordingly, our actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: the successful integration of acquisitions; significant fluctuations in foreign currency exchange rates; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Reports on Form 10-Ks and Quarterly Reports on Form 10-Qs. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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