Nano-Textile Ltd., Board of Directors approved certain changes in the company's management team. Mr. Raz Gal, who currently provides business development and legal advisory services to the company, was appointed the company's Chief Executive Officer, effective as of June 1, 2016, replacing Mr. Erez Ovdat who resigned from his position as the company's Chief Executive Officer, effective as of May 23, 2016. Since 2015, Mr. Gal, has served as Chief Operating Officer of Shay Sapir Investments Ltd. In light of the financial situation of the company, Mr. Gal will not be receiving a salary at this time for serving as the CEO of the company.