First Vice President for Finance
and Business Development
The University has installed Michael Wainer, a former corporate vice
president for finance (CFO) of Rafael Ltd., as vice president for
finance and business development. He is the first to hold this
position at the University.
Wainer served at Rafael for 16 years before joining the University.
He rose through a series of management positions, having served,
among others, as a financial manager of the production plant in the
missiles division and as the deputy division manager for finance and
As CFO of Rafael for the last seven years, Wainer played a leading
role in attaining the goal of changing Rafael’s status from an
instrumentality of the Israeli Ministry of Defense known as the
Israel Armaments Authority to a government company. In addition to
managing the company's finance and control aspects, he also served
as a director of Rafael's subsidiaries in the defense business and
its commercial spin-offs. During his tenure there, the company’s
annual sales increased by 60% to $800 million.
Prior to Rafael, he held financial positions at Rokar International
(a BAE company) and at Hadassah Hospital in Jerusalem.
A graduate of the Hebrew University of Jerusalem, he earned a B.A.
in economics and an M.A. in business management. Wainer, 49, is
married and has three children.
"After a successful period in the defense industry, I hope to
contribute from my experience to achieve the University's goals as a
leading university,” he stated. “As the V.P. for finance and
business development and as a director of Carmel [the University’s
economic affiliate], I look forward to increasing our financial
strengthen and to continued advancement of our academic
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