OWC Pharmaceutical Research Corp. announced that on March 6, 2020, Mordechai Bignitz resigned as Chief Executive Officer and director of the company. On March 6, 2020, the company appointed Mr. Zvi Riterband as Chief Executive Officer of the company.

Zvi Riterband specializes in optimization of company rights and assets in multi jurisdiction companies. Mr. Riterband served as director and CEO of EZTD Inc. from 2017 to 2020 and served as General Manager of AMERIS Holdings Ltd. from 2015 to 2017. Mr. Riterband has 25 years of experience managing international companies in the industrial and financial sectors including public held companies as Chip P.C. Ltd, Nia, Sefen, Transtech Airport Solutions and Bikur Cholim Hospital in Jerusalem.

On March 6, 2020, the company's Board of Directors appointed Mr. Riterband to the Board of Directors and its Audit Committee.