November 17, 2009 (FinancialWire) — Israeli apparel firm Tefron Ltd. (OTC: TFRFF) said that Adi Livneh, who has served as the company’s CEO since September 2008, has notified Tefron of his decision to resign for personal reasons. The company’s board has formed a search committee to nominate a new CEO.

Livneh’s resignation will become effective upon the earlier to occur of the appointment of a new CEO or February 15, 2012.

The search committee is comprised of Tefron’s chairman and three directors, two of whom are the company’s external directors.

Misgav, Israel-based Tefron manufactures intimate apparel, active wear and swimwear.

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