Verbit Announces Leadership Transition: Yair Amsterdam Named Acting CEO

Tel-Aviv, Israel, Feb. 05, 2024 (GLOBE NEWSWIRE) — Verbit.ai, the world’s leading transcription and captioning platform powered by AI, today announced that Yair Amsterdam, President, has been named Acting CEO, effective immediately. Tom Livne has decided to step down as CEO and will continue to contribute as Chairman Emeritus of the Board of Directors.

“Tom Livne, Verbit’s Founder and leader, has been instrumental in building Verbit into the industry leader it is today,” said Rob Schwartz, a board member. “His vision and passion have laid a strong foundation for our future success. We owe him a great debt of gratitude for his dedication and leadership.”

Tom Livne commented, “I am immensely proud of what we have achieved together at Verbit, and trust that the company is well-positioned for continued growth and innovation. I have full confidence in Yair and the entire management team at Verbit in leading the company to a successful future.”

Verbit embraces a new chapter with a focus on key verticals and Generative AI to solidify its market leadership. This includes:

• Sharpening focus on key verticals: Verbit will concentrate on strengthening its offerings in critical growth areas such as Legal, Education and Media.
• Enhancing products with Generative AI: Verbit is leveraging the latest advancements in Generative AI to transform the spoken word into an actionable resource for its customer and will continue doing so to further its innovation.
• Protecting financial strength: Verbit remains committed to responsible financial management and will prioritize a strong balance sheet for continued investment and growth.

“Verbit is at a pivotal moment, and we are confident that these changes will propel us to the next level,” says Yair Amsterdam. “We have the scale, the customer base, the financial resources, and the most talented team in the industry – all the ingredients for continued success.”

About Verbit

Verbit is the world’s leading verbal intelligence platform for speech-intensive industries, setting the standard for accuracy, efficiency, and affordability. Powered by the latest in AI technology, Verbit helps businesses, organizations, and individuals of all sizes turn spoken audio and video into accessible and actionable text. With a global network of human experts and an ever-evolving AI engine, Verbit ensures exceptional results while scaling to meet any need. For more information, visit www.verbit.ai.

CONTACT: David Titmus
Verbit
david.titmus@vitac.com