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Amiad Water Systems Searching for Chairman as Yeshua Steps Down

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April 23 (Bloomberg) -- The chairman of Amiad Water Systems Ltd., an Israeli water-filtration producer that this month reported a 55 percent decline in 2013 profit, is stepping down.

Tal Yeshua had served in the post since May 2008, the water-treatment company said today in a statement. He’ll depart “in due course” once a successor is named and approved to concentrate on his other interests, Amiad said.

The shares of the company founded on an Israeli kibbutz are almost unchanged this year and down 12 percent over the past 12 months. Amiad’s stock trades on London’s AIM market.

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To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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