2024-02-07 06:09:00
Tom Livna and the company Verbit have been in the headlines in recent days, since Livna, one of the three entrepreneurs who founded the automatic transcription company Verbit and who served until recently as the company’s CEO, announced a few days ago his intention to leave his position.
In an exclusive interview with Globes, the first that another has announced his intention to leave the position, Livna said that the decision came on his behalf. He also said in the interview that “I explained to the board of the company that leaving the position of CEO is part of a natural evolution.” Livna added that his relations with the board of directors and Rabit “are excellent. I am the chairman of the board and we all work together.” As part of his departure from the position of CEO, Livna said that he intends to find a replacement for the position by the end of this year.
A day later the responses started coming. First, Verbit released an announcement to the media about the appointment of Yair Amsterdam as the company’s new CEO. Amsterdam has served as Verbit’s chief technology officer since 2022. Also, in the company announcement, it was announced that Livna will move to the position of chairman of the board but will not continue to hold an active position In society, this is contrary to his words.
The board of directors’ decision on the hasty appointment, compared to the time period stated by Livna, reflects the gap between Livna’s narrative and the steps taken by the company.
The mindset in society is completely different
As part of the Globes interview, Livna said that Verbit remained and is still a strong company, and that “we have 100 million dollars in cash and another 50 million in credit, we have financing offers from private equity funds and we have a growing arm of transcription for the legal world.” He added that he will remain the “spiritual father” of the company, and that the new CEO will actually be “someone who will work for him.” He explained that beyond his occupation of Burbit, his schedule is full and busy. “I invest in companies, I am the chairman of companies and engages in philanthropy.”
From the company’s side, it seems that the mindset is completely different. Sources in the company say that “he is a good entrepreneur and you can’t take that away from him, but it’s a shame he got confused.” They explain Verbit’s announcement by saying that “after the things he said, it was clear that he could not stay in the company.” It was also said about Livna, this in connection with a number of statements on his behalf in the interview, that “it is not clear how someone can express himself like that, and even more so during a time of war, when people are fighting for their lives out there.”
Another evidence that the board’s decision was a hasty response to Livna’s conduct is the fact that the news of the appointment of the new CEO reached the media even before the employees knew about it, according to company officials.
In an email that Livna sent to Verbit employees last week, he wrote that “as a very significant shareholder, this is not the end of Burbit’s ways, even if a suitable candidate is found to replace me as the company’s CEO, I will remain involved as the company’s chairman.” However, according to sources close to the company, Livna is not the main shareholder in the company, and that “maybe there was one in the beginning”.
Regarding the board’s decision, which contradicts some of the things Livna stated in the interview, no response has yet been received on his behalf.
The article was first published in “Globes”.
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