Innoviz Expands Board of Directors with World Technological know-how and Automotive Business Veterans

These appointments abide by the consummation of Innoviz’s merger with Collective Progress Company (formerly Nasdaq:

These appointments abide by the consummation of Innoviz’s merger with Collective Progress Company (formerly Nasdaq: CGRO) on April 5, 2021.

The next offers facts about the new appointees to Innoviz’s board of administrators:

  • Chairman of the Board: Amichai Steimberg, Previous CEO of Orbotech Ltd.
    Mr. Steimberg beforehand served as President and Main Functioning Officer of Orbotech Ltd. from 2013 to 2019, and as Main Executive Officer of Orbotech Ltd. from 2019 to 2020. Mr. Steimberg is the President and Main Operating Officer of Israel Amplify System Corp., and serves as a board member in various non-public providers, which include as Chairman of the Board of Directors at Airovation Systems Ltd. From September 2020 to January 2021, Mr. Steimberg served as Chairman of the Board of Directors of Highcon Method Ltd., an Israeli organization outlined on the Tel Aviv Stock Trade. Mr. Steimberg holds a BSc in Agricultural Economics and Business Administration from the Hebrew College in Jerusalem.
  • Aharon Aharon, CEO of Israel Innovation Authority
    Due to the fact 2017, Mr. Aharon has served as the Main Government Officer of the Israel Innovation Authority, an independent general public entity that encourages Israel’s innovation ecosystem. Prior to that, Mr. Aharon served as the Corporate Vice President of Hardware Technologies and Common Manager of Apple Israel from 2011 to 2017, and as the CEO of Camero from 2004 to 2010 (at which time the enterprise was obtained). Mr. Aharon served as Chairman of the Board of Directors at Discretix Technologies from 2003 to 2010 (the organization was subsequently obtained by ARM in 2014) and as COO at Zoran, a NASDAQ traded firm from 1996 to 2001. Mr. Aharon retains a B.Sc in Pc Engineering and a M.Sc in Electrical Engineering from the Israel Institute of Technology.
  • Ronit Maor, Chief Fiscal Officer of Earnix Inc.
    Given that 2017, Ms. Maor has served as the Main Financial Officer of Earnix Inc., a primary SaaS firm delivering an AI-driven pricing, rating and product personalization for coverage and banking customers. Prior to joining Earnix Inc., Ms. Maor was the Chief Fiscal Officer at Pontis, a primary electronic client engagement firm, from 2012 until finally its acquisition by Amdocs in 2016. Ms. Maor holds a BSc in Industrial Engineering and Management from the Tel Aviv College.
  • Dan Falk, Board Member at Good Ltd. and Ormat Technologies Inc.
    Mr. Falk has served as a member of the board of administrators of Nice Ltd., a Nasdaq-stated firm, since 2001, and has served as a member of the board of directors of Ormat Systems Inc., a New York Inventory Trade-shown firm, given that 2004. From 1999 to 2000, Mr. Falk was President and Chief Working Officer of Sapiens International Corporation N.V. From 1985 to 1999, Mr. Falk served in many positions in Orbotech Ltd., the previous of which had been Chief Financial Officer and Government Vice President. Mr. Falk was also a member of the Board of Directors of Orbotech Ltd. Mr. Falk holds a Bachelor’s degree in Economics and Political Science and a Master’s degree in Company Administration from the Hebrew University in Jerusalem.
  • Orit Stav, Seasoned Investment Supervisor
    Ms. Stav is a seasoned expenditure manager with 20 decades of knowledge in the Technological innovation, Venture Funds, and Personal Fairness sectors. She at this time serves as a member of the board of directors of Camtek Ltd., Doral Renewable Power Means Ltd., Hadasit Bio-holdings Ltd., YSB Group, HomeBioGaz, A.Luzon Real Estate and Finance Ltd. and ORT Technologies Ltd. Because 2015, Ms. Stav has served as a Handling Partner at Israel Innovation Partners. Prior to that, she assisted guide investments in corporations this sort of as Siemens Enterprise Capital and Eva Ventures. Ms. Stav holds a Master of Organization Administration from Hertfordshire College, Uk, and a Bachelor’s degree in Arts (Economics and Administration) from the Tel Aviv University.
  • James Sheridan, CEO of Notion Money Associates, SPAC Sponsor
    Mr. Sheridan is a senior running govt with in excess of 25 decades of working experience and deep practical experience in the automotive field. He has working experience as both equally an operating govt (Main Procurement Officer) and as a chief of the Buying Exercise at McKinsey. His prior activities contain roles as CPO at Forterra, Senior Specialist at McKinsey, CPO at Champion, and a variety of roles with Ford Motor Company. Mr. Sheridan retains a B.A. from the School of the Holy Cross and M.B.A from Carnegie Mellon.

“We are grateful to have assembled an amazing selection of industry experts to provide on Innoviz’s board as we navigate as a result of this upcoming phase of growth,” mentioned Omer Keilaf, Co-Founder and CEO of Innoviz. “Our staff has worked diligently to discover leaders in the technologies and automotive areas who are uniquely positioned to facilitate our transition to a community corporation and push shareholder worth in the process. We are looking forward to performing with this completed team and leveraging their abilities as we keep on to push the boundaries of LiDAR and enter substantial quantity sequence manufacturing.”

Amichai Steimberg, long run Chairman of the Board, commented: “Innoviz has immediately acquired its reputation as a worldwide chief in higher general performance, automotive-grade LiDAR. Innoviz is pushing the autonomous motor vehicle business ahead in modern approaches. I am assured this group of leaders will efficiently oversee the deployment of Innoviz’s LiDAR and notion program to BMW and other major car or truck producers in the in the vicinity of expression.”

About Innoviz Systems
Innoviz is a major company of technological know-how that will put autonomous motor vehicles on streets, in the long run shifting the globe and generating existence improved. Innoviz is the only business with LiDAR technologies that can “see” better than a human driver, whilst also meeting the automotive industry’s stringent requirements for effectiveness, safety and price tag. Selected by BMW for its entirely electrical iX autonomous auto program, Innoviz’s technologies will be the initial to be deployed in consumer motor vehicles. Innoviz is backed by top-tier strategic companions and buyers, which include SoftBank Ventures Asia, Samsung, Magna Intercontinental, Aptiv, Magma Venture Partners, and many others. For additional data, visit www.innoviz.tech.

Ahead Hunting Statements
This announcement is made up of sure forward-seeking statements within just the this means of the federal securities rules, together with statements with regards to the gains of the transaction, the providers offered by Innoviz and the marketplaces in which it operates, and Innoviz’s projected future final results. These forward-searching statements typically are identified by the words and phrases “believe,” “undertaking,” “hope,” “anticipate,” “estimate,” “intend,” “technique,” “foreseeable future,” “option,” “strategy,” “may possibly,” “must,” “will,” “would,” “will be,” “will proceed,” “will most likely end result,” and identical expressions. Ahead-on the lookout statements are predictions, projections and other statements about upcoming occasions that are primarily based on present anticipations and assumptions and, as a end result, are subject matter to risks and uncertainties. Quite a few variables could trigger precise foreseeable future activities to vary materially from the forward-searching statements in this announcement, which include but not limited to, the capacity to implement business designs, forecasts, and other expectations subsequent the transaction, the capability to recognize and comprehend more alternatives, and potential improvements and developments in the extremely aggressive LiDAR technologies and associated industries. The foregoing record of variables is not exhaustive. You should really meticulously contemplate the foregoing aspects and the other dangers and uncertainties described in the definitive proxy assertion/prospectus submitted with the SEC on March 11, 2021 and other files filed by Innoviz from time to time with the SEC. These filings discover and handle other critical pitfalls and uncertainties that could lead to true occasions and success to differ materially from these contained in the ahead-searching statements. Forward-looking statements speak only as of the date they are made. Viewers are cautioned not to set undue reliance on ahead-on the lookout statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-searching statements, no matter whether as a consequence of new information and facts, long term functions, or usually. Innoviz offers no assurance that it will attain its expectations.

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