BrainsWay Announces Appointment of Ido Marom as CFO

BrainsWay Announces Appointment of Ido Marom as CFO


BURLINGTON, Mass. and JERUSALEM, May 23, 2023 (GLOBE NEWSWIRE) – BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in advanced noninvasive neurostimulation treatments for mental health disorders, today announced the appointment of Ido Marom, an experienced senior financial leader in global industries, including medical technology, as Chief Financial Officer (CFO). Mr. Marom will succeed Scott Areglado, who will be stepping down from the Company to pursue other opportunities.

“We are thrilled to welcome Ido and his extensive financial expertise to BrainsWay,” stated Hadar Levy, BrainsWay’s Chief Executive Officer. “He has led the financial strategy and infrastructure for both emerging and large companies. Importantly, Ido has developed successful revenue generating plans throughout his distinguished career. We look forward to his significant contributions as we continue to grow our business as a global leader in the dynamic TMS industry.”

Most recently, Mr. Marom served as CFO of Surgical Theater Inc., a start-up medical technology company, since 2019. In this role, he oversaw all financial and legal matters, including responsibility for budgets and financial statements. Prior to this, Mr. Marom served as Finance Director – Commercial Finance Business Officer at Amdocs, a global market leader in the communication and media industry with $4.6 billion in revenue. In this role, he led business teams interacting with the company’s largest customers and formulated revenue generating strategies. Previously, Mr. Marom served as CFO and Chief Operating Officer of The Jewish Agency in North America, and as Vice President of Finance of Ness Technologies, a global provider of IT services with approximately $600 million of revenues. Earlier in his career, Mr. Marom held senior finance and accounting roles with Motorola and Intel, and served as a Senior Auditor at EY.

Mr. Marom is a Certified Public Accountant and received his Bachelor of Arts degree in Accounting and Finance from Haifa University.
“I am excited to join this innovative company at such a critical juncture in its corporate lifecycle,” said Mr. Marom. “BrainsWay is advancing towards profitability and is focused on strategically growing its business. I believe my financial leadership experience can be especially critical in leveraging the unique opportunities we have to gain market share in the evolving TMS market.”

“I would like to thank Scott for his contributions to BrainsWay during his two years as CFO,” continued Mr. Levy. “He has served a critical role in our company, and we wish him well in his future endeavors.”