Tower Semiconductor Appoints Russell Ellwanger as CEO

April 20, 2005 by Jeff Shepard

Tower Semiconductor Ltd. (Migdal Haemek, Israel) announced the appointment of Russell Ellwanger as Chief Executive Officer. Ellwanger, who is to take the helm May 1, 2005, brings more than 25 years of industry experience and most recently was a group Vice President at Applied Materials Inc.

Ellwanger is familiar with Israel, where Tower is based, and in addition to his tenure with Applied, Ellwanger's career also includes time in Japan, Singapore and the Netherlands. He held executive positions at Applied rival Novellus Systems, and management positions at Philips Semiconductor. The appointment of Ellwanger follows the placement of Udi Hillman as acting CEO in February when former CEO and Chairman Carmel Vernia stepped down.

"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," stated Hillman. "The appointment of Ellwanger is a significant strengthening of our senior management team. He is multi-faceted 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."