On August 21, 2023, Innoviz Technologies Ltd. announced the appointment of Mr. Elad Hofstetter as the Company?s new Chief Business Officer. Mr. Hofstetter will oversee the Company?s business development activities, establish sales targets and KPIs, and implement, report and review strategic sales and marketing plans. Hofstetter replaces Ms. Tali Chen, who is stepping down from her CBO role to pursue a CEO position in a privately held company.

Ms. Chen will continue with the Company through the end of September 2023 to ensure a smooth transition. Mr. Hofstetter joined the Company in 2018, served in several positions in the Company, including as the Company?s VP of Product since 2021. Mr. Hofstetter has over 15 years of experience in R&D, product and project management positions.