CEO 2021 Spring Greeting

By: Mr. Russell Ellwanger,  Tower Semiconductor CEO & TPSCo Chairman  |  April 28, 2021

Dear Valued customers, partners, shareholders, and employee,

When facing an advanced medical procedure, do we select the provider based upon personality?

No, of course not! We will select the most capable hands available to us. Personality is accretive. A lack of or a negative personality may be a disqualifier, but it is not the enabler. Capability is the enabler.

At Tower, we have developed our set of value vectors. A vector signifying magnitude and direction- a construct depicting constant movement and progress. At the center of our construct, we place Excellence, and state “excellence embedded in everything we do”. We further define excellence as the conjugation of “efficiency, effectiveness and quality”. This conjugation, embedded in everything we do, is a perfect definition of capability.

We feel so strongly about this, and the company is so committed to it, that we are in the midst of an all employee, (yes, every single employee!) Tower incepted, specific, 4-chapter training with the sole intent to bring the COMPANY together with a common vernacular, adding concepts and motivations to further accelerate our excellence journey trajectory.

What about the accretive personality surrounding the best of class capability? Yes, you are correct. This is why we give focus to the 4 values of leadership, partnership, impact and innovation including their associated full set of required behaviors and attitudes. We are committed, the management and the entire company, to continuous growth in Excellence, based upon your candid feedback, honest introspection, and diligent evaluation of evolving professional best practices, and towards one end- to ensure that Tower is a Value Based, Value Delivering Company.

We are excited about the progresses of COVID vaccines and look forward to steps towards a return to normalcy for the world, for our business environment and for each of you and your families. My wishes for peace, happiness, and security to each of you. And my deep thanks and appreciation to our global employee base for their contributions in creating a Tower family that is a most amay-may place to work.

Mr. Russell Ellwanger

Tower Semiconductor CEO & TPSCo Chairman

Mr. Ellwanger has served as Chief Executive Officer since May 2005. He has served as Director since September 2016, and as Chairman of the Board of Directors of the Company’s subsidiaries: Tower Semiconductor USA, Inc., Tower US Holdings, Inc., Jazz US Holdings, Inc., Jazz Semiconductor, Inc., TowerJazz Panasonic Semiconductor Co., Ltd. and TowerJazz Texas, Inc.

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