February 19, 2018 -- Weebit Nano (ASX: WBT), the Israel-based semiconductor company seeking to develop and commercialise the next generation of memory technology, announces the appointment of Dr Yoav Nissan-Cohen to its Board as an Executive Director.

Weebit Nano Chairman, Mr Dadi Perlmutter, welcomed the appointment of Dr. Nissan-Cohen as a key addition to the Board as the Company continues to progress its technology development and move towards commercialisation.

Commenting on the appointment, Mr Perlmutter said, “We are very excited to have Yoav join the Board. Yoav brings to the Company a deep understanding of memory technology and extensive executive leadership experience.”

Weebit Nano CEO, Mr Coby Hanoch, added, “Yoav’s experience and knowledge in the memory market are a key addition to Weebit Nano, and he will bring expert counsel to the company on both technical and operational matters. While Weebit Nano may be a relatively young company, we have formed a powerful leadership team that is very well placed to drive the Company forward.”

Nicohy Ltd., a company wholly owned by Dr Nissan-Cohen has also been appointed as a consultant advising the Board and Management team of Weebit Nano Ltd, a wholly owned subsidiary of the Company incorporated under the laws of the State of Israel.  Dr Nissan-Cohen will perform all of the consultancy services on behalf of Nicohy Ltd. 

Dr. Yoav Nissan-Cohen's career covers nearly 40 years of scientific research, technology development, and executive management in the “High Tech” industry. He started his career as a research scientist in GE’s R&D center in New York where he studied the use of silicon dioxide in semiconductor memory devices. He then led the spin-out of National Semiconductor’s fabrication, creating Tower Semiconductor, where he was CEO for nine years. Tower Semiconductor is a Nasdaq-listed, global specialty semiconductor foundry leader, with a market cap of US$3.4 billion.

Dr. Nissan-Cohen also played a key role in establishing a non-volatile technology startup, Saifun Semiconductor, which was eventually sold to Spansion. After two years in the venture capital industry, he came back to his entrepreneurial origins and took the Chairman and CEO position in Amimon, providing wireless transmissions of HD Video at zero latency.

Currently, Dr. Nissan-Cohen is Chairman and CEO for Zullavision, which is utilising technologies developed in Israel to provide innovative solutions for film and TV productions.

Dr. Nissan-Cohen said, “I am extremely excited to join Weebit Nano, allowing me to return to my origins in Silicon Oxide memory design and to leverage my experience in managing semiconductor companies progressing from development to production and commercialization phases. I believe Weebit Nano has a unique combination of advanced technology, strong partnerships, and an impressive leadership team, which are key ingredients for successful technology companies.”