Ethernity Networks Ltd on Wednesday said it has promoted its finance vice president, Ayala Deutsch, as chief financial officer, following the resignation of Mark Reichenberg in the summer.

Shares in Ethernity were up 2.4% at 1.05 pence each in London on Wednesday morning.

The Israel-based supplier of data processing semiconductor technology for networking appliances said Deutsch joined Ethernity five years ago.

Deutsch has been carrying out the firm’s CFO duties since August, after Reichenberg stepped down with mutual consent following six years in the role, although reasons for his departure were not revealed.

Chief Executive Officer David Levi said: ‘I’ve been working with Ayala for over five years, and she has consistently demonstrated leadership, strategic thinking and commitment to our financial success. I look forward to continuing to work together as we pursue growth of the business.’

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