Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 178

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 5
Chunk 178
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ato has served as a board member of “ Leumit”
Medical Service since March 2025 and as an independent director, chairman of the Audit Committee and member of the compensation committee
of HUB Cyber Security Ltd. (NASDAQ CM: HUBC) since April 2023. Since 2011, Mr. Flato was previously a member of the Israel Bar Association.
From 2009 until 2018, Mr. Flato served as a director in two Provident Funds. From 2009 until April 2018, Mr. Flato served
as Chairman of the Business Executive of Kibbutz Kfar Blum. From January 2018 until April 2020, Mr. Flato served as Chairman of
the Business Executive Kibbutz “ NAAN”. Since 2004, Mr. Flato has functioned as an independent financial adviser.
Until 2004, Mr. Flato served as the VP for planning, economics and online banking at United Mizrahi Bank and as the Chief Economist of
the bank. From 1992 until 1996, Mr. Flato served as the Economic Advisor to the Prime Minister of Israel. Prior to that position, Mr.
Flato served in the Treasury Office as the deputy director of the budget department. In addition, Mr. Flato served as a member of the
board of directors of many government-owned companies. Mr. Flato holds a B. A. degree in economics from Tel-Aviv University, an LL. B. degree
from Netanya College, an M. A. degree in law from Bar-Ilan University and an MSIT from Clark University.

Yoav Z. Chelouche has served as a director since April 2016, as
a member of the Corporate Governance and Nominating Committee since January 2018, and as the Chair and member of our Audit Committee since
May 2017. Mr. Chelouche is classified by the Board of Directors as an audit committee financial expert under applicable SEC rules.
Mr. Chelouche has served as Managing Partner of Aviv Ventures since its inception in 2001. Between 1995 and 2001, Mr. Chelouche
served as President & Chief Executive Officer of Scitex Corp. Until 2015, Mr. Chelouche was co-chairman of Israel Advanced Technology
Industries. Mr. Chelouche currently serves on the Board of Directors of the