FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
For the month of April 2005 No.3
TOWER SEMICONDUCTOR LTD.
(Translation of registrant's name into English)
P.O. BOX 619, MIGDAL HAEMEK, ISRAEL 23105
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [_]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [_] No [X]
On April 21, 2005, the Registrant announced that its board of directors
appointed Russell Ellwanger as Chief Executive Officer. Attached hereto is a
copy of the press release.
This Form 6-K is being incorporated by reference into all effective
registration statements filed by us under the Securities Act of 1933.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TOWER SEMICONDUCTOR LTD.
Date: April 21, 2005 By: /s/ Nati Somekh Gilboa
--------------------------
Nati Somekh Gilboa
Corporate Secretary
TOWER'S BOARD OF DIRECTORS APPOINTS RUSSELL ELLWANGER CHIEF EXECUTIVE OFFICER
Former Executive of Applied Materials Joins Tower Semiconductor
MIGDAL HAEMEK, ISRAEL - April 21, 2005 - Tower Semiconductor (NASDAQ: TSEM;
TASE: TSEM) announced today the appointment of Russell Ellwanger as chief
executive officer. Ellwanger will assume his new position on May 1st.
Ellwanger brings more than twenty-five years of experience leading international
semiconductor and technology companies. His management responsibilities have
included development, commercialization and managing enterprises through
semiconductor industry cycles.
"Tower's expectations for rapid growth in specialized foundry services dictate
that we bring in someone of Russell Ellwanger's experience, strategic thinking
and management skills," commented Udi Hillman, Tower's acting CEO. "The
appointment of Mr. Ellwanger is a significant strengthening of our senior
management team. He is multifaceted with broad and deep knowledge of the
semiconductor industry. He has a strong reputation for close customer
interaction, product innovation and grasp of complex issues. I expect that his
energy and experience will inspire the Tower team and fuel considerable future
success for the company."
Most recently, Ellwanger was group vice president in Applied Materials
Corporation (NASDAQ:AMAT). Ellwanger served as general manager of Applied Global
Services (AGS), general manager of the CMP and Electroplating Business Group, co
general manager of the Metrology and Inspection Business Group and vice
president of the 300mm Program Office. Ellwanger is familiar with Israel having
served as corporate vice president and general manager of a business group for
Applied Materials.
Ellwanger's international career also includes time in Japan, Singapore and the
Netherlands. He held executive positions at Novellus Systems (NASDAQ: NVLS), and
research & development management positions at Philips Semiconductor
The appointment of Ellwanger concludes a search process that had been underway
during the past several quarters and accelerated when the board appointed board
member Udi Hillman as acting CEO in February.
ABOUT TOWER SEMICONDUCTOR LTD.
Tower Semiconductor Ltd. is a pure-play independent specialty foundry
established in 1993. The company manufactures integrated circuits with
geometries ranging from 1.0 to 0.13 micron; it also provides complementary
technical services and design support. In addition to digital CMOS process
technology, Tower offers advanced non-volatile memory solutions, mixed-signal
and CMOS image-sensor technologies. To provide world-class customer service, the
company maintains two manufacturing facilities: Fab 1 has process technologies
from 1.0 to 0.35 micron and can produce up to 16,000 150mm wafers per month. Fab
2 features 0.18 micron and below standard and specialized process technologies
and has a current capacity of up to 15,000 200mm wafers per month. Tower's
website is located at www.towersemi.com.
Page 4
CONTACT:
Tower Semiconductor USA
Doron Simon, +1 408 330 6888
pr@towersemi.com
or
Pacifico Inc.
PR Agency Contact
Mary Curtis, +1 408 293 8600
mcurtis@pacifico.com
or
Fusion IR & Communications
Investor Relations Contact
Sheldon Lutch, +1 212 268 1816
sheldon@fusionir.com
Page 5