Jazz Technologies President Resigns

June 11, 2007 by Jeff Shepard

Jazz Technologies, Inc. announced that Ellen M. Hancock resigned as President and from the Board of Directors effective June 7, 2007. Hancock, together with Gilbert F. Amelio, Ph.D. and Steve Wozniak, co-founded Jazz Technologies (formerly Acquicor Technology) in 2005 and helped to lead the company through an initial public offering in 2006 and its merger with Jazz Semiconductor, Inc. in 2007. Following the merger, Hancock decided to resign to devote time to other business obligations.

"On behalf of Jazz Technologies’ Board, management and employees, I would like to thank Ellen Hancock for her hard work and dedication," said Gil Amelio, Chairman and Chief Executive Officer of Jazz Technologies. "Since co-founding the company two years ago, Ellen has been a driving force behind the development and implementation of the company’s strategy, helping us to evolve into a public company and playing a critical role in our merger with Jazz Semiconductor. We wish Ellen the best."

Commenting on her resignation, Hancock said, "I am pleased to have achieved the goal we set when we formed Acquicor as a blank check company, which was to find a viable business to acquire that showed great promise and potential for success. Now that the merger with Jazz Semiconductor is complete and industry veteran Gil Amelio is at the helm of the new company, I will return to my other professional commitments. I will miss my association with Jazz Technologies, its management and my fellow directors. I wish them well."

The company has no current plans to replace Hancock. Her duties will be assumed by Gil Amelio and Paul A. Pittman, Chief Financial Officer.