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Corporate Governance

Board of Directors

Michael Maoz Lev
- Chairman, Member of the Supervisory Committee

Michael Lev has served as director since May 2010. Mr. Lev brings with him important experience in the fields of mergers & acquisitions and finance having previously worked as an investment banker in the Structured Finance Group of Goldman Sachs & Co., in New York and as an M&A advisor in the property and healthcare markets. Mr. Lev holds a B.Sc in Mathematics and Business from The American University in Washington D.C., and an MBA from Tel-Aviv University.

Yinon Cohen
- Director, Member of the Supervisory Committee

Yinon Cohen has served as a director and member of the supervisory committee since November 2010. Mr. Cohen is currently the Managing Partner of Credo Capital Ltd, a European focused real estate investment fund. Previously Mr. Cohen worked as a portfolio manager at Investec Asset Management in Israel. Mr. Cohen has a Bachelors degree in Economics and Business Administration and a Masters degree in Law, both from Bar Ilan University.

Roy Sebag
- Director

Roy Sebag has served as director since May 2010. Mr. Sebag developed the investment strategy for Natural Resource Holdings as a way to achieve asymmetric exposure to commodities with favorable fundamentals. Previously, Mr. Sebag founded Essentia Equity a value-oriented investment company that generated average annual returns exceeding 30% per annum from 2004-2010.

Alla Felder
- Independent Director, Member of the Supervisory Committee, Member of the Auditing Committee

Alla Felder has served as an Independent Director of Natural Resource Holdings since November 2010. Previously, she served as Senior Manager at PriceWaterhouse Israel for 13 years. Ms. Felder holds Bachelors in Accounting and Business Management from the College of Management - Academic Studies, MSc in Finance from the University of New York, and is a Certified Public Accountant.

Moshe Horowitz
- Independent Director, Member of the Supervisory Committee, Member of the Auditing Committee

Moshe Horowitz has served as an independent director of Natural Resource Holdings and its predecessor company Cidav Printed Circuits since 2007. Mr. Horowitz brings with him many years of experience as CFO and CEO of public companies in Israel having previously served as Executive Vice President and Chief Financial Officer of Tadiran Communicati


Ernst & Young Israel (Kost Forer Gabbay & Kasierer)