Lumileds Appoints New Chief Financial Officer

LED company Lumileds has appointed Ilan Daskal as its chief financial officer (CFO), effective May 1. Daskal has over 25 years of experience in numerous senior financial roles, including VP of finance at Infineon Technologies NA and CFO at International Rectifier.

“We are thrilled to have Ilan join our team. His breadth of experience in operations, mergers and acquisitions, and capital markets will help drive Lumileds future growth,” said CEO Mark Adams.

Lumileds is a wholly-owned subsidiary of Royal Philips. Philips announced on December 12, 2016 that it signed an agreement to sell a majority interest in Lumileds to certain funds managed by affiliates of Apollo Global Management, a US private equity firm.

The transaction is expected to be completed in the first half of 2017, subject to customary closing conditions. As required under the signed agreement, Apollo has been appropriately briefed on the appointment of Ilan Daskal as CFO.

“I could not be more excited about joining the executive team at Lumileds. The company’s legacy of innovation, customer engagement and performance leadership are all compelling factors that will drive continued success,” added Daskal.