Edition:
United States

Formula Systems 1985 Ltd (FORTY.OQ)

FORTY.OQ on NASDAQ Stock Exchange Global Select Market

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12 Dec 2017
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Summary

Name Age Since Current Position

Marek Panek

2010 Chairman of the Board

Guy Bernstein

49 2008 Chief Executive Officer

Asaf Berenstin

38 2011 Chief Financial Officer

Dafna Cohen

46 2009 Director

Rafal Kozlowski

42 2012 Director

Iris Yahal

54 2013 External Director

Eliyahu Zamir

47 2013 External Director

Yaffa Cohen-Ifrah

IR Contact Officer

Biographies

Name Description

Marek Panek

Mr. Marek Pawel Panek serves as Chairman of the Board at Formula Systems (1985) Ltd since November 2010. Additionally, he serves as Vice Chairman of the Management Board of Asseco Poland SA since June 19, 2007. His work experience includes the following roles: Member of the Management Board of Asseco Poland SA (from March 2004), has held executive positions at companies of Asseco Group, including Chairman of the Board of Directors at Asseco Danmark A/S, Member of the Supervisory Board of Asseco Central Europe, Member of the Board of Directors of Sintagma UAB, Marketing Specialist and Sales Director at Asseco Poland SA (from 1995) and Employee at Zaklad Elektroniki Gantel Sp. z o.o. (1993-1995), COMP Ltd. Sp. z o.o. (from 1995), COMP Soft Sp. zo.o. (1998-1999) and at ARMA Sp. zo.o. (2001-2003). He holds a Master of Engineering degree in Mechanical and Aeronautical Engineering from the Rzeszów University of Technology.

Guy Bernstein

Mr. Guy Bernstein serves as Chief Executive Officer at Formula Systems (1985) Ltd since January 2008. His work experience includes the following roles: Director at the Company (November 2006-December 2008), Director at Emblaze Ltd (April 2004-February 2011), Chief Executive Officer at Emblaze (December 2006-November 2010), Chief Financial Officer at Emblaze (April 2004-December 2006), Chairman of the Board of Directors at Matrix, Chairman of the Board of Directors at Sapiens, Chief Executive Officer and Director at Magic Software, Chief Financial and Operations Officer at Magic Software and Senior Manager at Kost Forer Gabbay & Kasierer. Mr. Bernstein holds Bachelor of Arts degree in Accounting and Economics from Tel Aviv University. He is a Certified Public Accountant.

Asaf Berenstin

Mr. Asaf Berenstin serves as Chief Financial Officer at Formula Systems (1985) Ltd since November 2011. He also serves as Chief Financial Officer at the Company's subsidiary, Magic Software, since April 2010. His work experience includes the following roles: Corporate Controller at Magic Software (from August 2008), Controller at Gilat Satellite Networks Ltd. (from July 2007), Apprentice at PwC Israel - Kesselman & Kesselman (October 2003-July 2008). Mr. Berenstin holds a Bachelor of Arts degree in Accounting and Economics and a MBA degree, both from Tel-Aviv University. He is a Certified Public Accountant.

Dafna Cohen

Ms. Dafna Cohen serves as Director at Formula Systems (1985) Ltd since October 2009. She is a Member of the Company's Audit committee (since January 2011) and of the Compensation committee (since July 2013). Her work experience includes the following roles: Director at XTL Biopharmaceuticals Ltd, Director at Europort Ltd, Director of Global Treasury at MediaMind Technologies (2010-2011), Director of Investments and Treasurer at Emblaze (2005-2009), Investment Manager at Leumi Partners and Department Manager at the derivatives sector and Foreign Securities Dealer at Bank Leumi. She holds a Bachelors degree in Economics and Political Science and a MBA degree, majoring in Finance and Accounting, both from The Hebrew University of Jerusalem.

Rafal Kozlowski

Mr. Rafal Kozlowski serves as Director at Formula Systems (1985) Ltd since August 2012. He is a Member of the Asseco Group Board of Directors and serves as Vice President of the Management Board and Chief Financial Officer of Asseco since June 2012. His work experience includes the following roles: Vice President of Asseco South Eastern Europe S.A.- responsible for the company's financial management (May 2008-May 2012), he was directly involved in the acquisitions of companies incorporated within the holding of Asseco South Eastern Europe, as well as in the holding's IPO process at the Warsaw Stock Exchange, Director of Controlling and Investment Division at Asseco Poland S.A. (2007-June 2009), Financial Director at Delta Software (1996-1998), Senior Manager at Veraudyt (1998-2003), Head of Treasury Department at Softbank S.A. (2004-2006) and Vice President-Finance at Sawan S.A. (a subsidiary of Softbank S.A.). He holds a Masters degree in Organizational Management from the University of Warsaw. Additionally, he completed the Project Management Program organized by PMI (2004) and the International Accounting Standards Program organized by Ernst & Young Academy of Business (2005-2006).

Iris Yahal

Ms. Iris Yahal serves as External Director at Formula Systems (1985) Ltd since April 2013. She is the Chairperson of the Company's Audit committee (since April 2013) and Member of the Compensation committee (since July 2013). Her work experience includes the following roles: Independent Strategic Transaction Advisor for various software, renewable energy, infrastructure and biotech companies (since 2007), Chief Financial Officer at BluePhoenix Solutions Ltd (1995-2007), Director at BluePhoenix Solutions and at each of its international subsidiaries (1999-2007 ), Controller at Argotech Ltd (1991-1996) and Auditor with Wallenstein and Co. Ms. Yahal holds a Bachelor of Science degree in Accounting and Statistics and a MBA degree, both from Tel- Aviv University. She is a Certified Public Accountant.

Eliyahu Zamir

Mr. Eliyahu (Eli) Zamir serves as External Director at Formula Systems (1985) Ltd since March 2013. He is a Member of the Company's Audit committee (since April 2013) and of the Compensation committee (since July 2013). His work experience includes the following roles: Independent Financial Advisor, Chief Executive Officer at Invest Pro Ltd (a private investment firm; 2007-December 2014), Portfolio Manager (1995-2002), Chief Executive Officer at an underwriting firm (2002-2007) and Director at Synopsis Ltd. He holds a Bachelors degree in Finance and Accounting from Tel-Aviv University and a MBA degree from Ben Gurion University.

Yaffa Cohen-Ifrah

Basic Compensation