Business Context and Reporting Period
This Form 6-K filing by Tower Semiconductor Ltd. covers the period of February 2005, specifically dated February 10, 2005. The company is a pure-play independent wafer foundry established in 1993, headquartered in Migdal Haemek, Israel. It manufactures integrated circuits with geometries ranging from 1.0 to 0.13 micron and operates two facilities: Fab 1 (150mm wafers) and Fab 2 (200mm wafers).
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current event disclosure regarding corporate governance and does not contain financial statements or performance data.
Material Changes
The primary material change disclosed is the appointment of Udi Hillman as Acting Chief Executive Officer, effective February 10, 2005. This appointment allows the Board of Directors to continue its search for a permanent CEO.
Guidance, Outlook, and Management Commentary
There is no financial guidance, outlook, or management commentary regarding future performance in this filing. The document focuses solely on the leadership transition. Mr. Hillman, 52, previously served as a director of Tower from 1996 to 1999 and was reappointed to the Board in January 2000, serving as Vice Chairman since January 2001. He currently serves as President and CEO of ICTech, the technology holding company of Israel Corporation.
Key Facts for Investor Verification
- Udi Hillman has been appointed Acting CEO effective February 10, 2005.
- The Board is actively searching for a permanent Chief Executive Officer.
- Mr. Hillman has prior experience with the company as a director and Vice Chairman.
- No financial results or operational metrics are included in this specific filing.