Arie Mientkavich has served as Chairman of the Board of Directors of Elron Electronic Industries since January 2007 and in parallel as Chairman of the Boards of Rafael Development Corporation Ltd. or RDC and Clal Tourism Ltd. Mr. Mientkavich has also been Chairman of the Board of Directors of Gazit Globe (Development) Ltd. and Deputy Chairman of IDB Holding Corporation Ltd. since 2006 and Deputy Chairman of Gazit Globe Ltd. since 2005. Prior to this from 1997 through January 2006 Mr. Mientkavich served as Chairman of the Board of Directors of Israel Discount Bank Ltd. and its major subsidiaries Israel Discount Bank of New York Mercantile Discount Bank Ltd. and Discount Management Provident Funds. Between 1987 and 1997 Mr. Mientkavich served as Active Chairman of the Board of the Israel Securities Authority the Israeli equivalent of the United States Securities and Exchange Commission or SEC. Prior to that from 1979 through 1987 he was the General Counsel of the Israeli Ministry of Finance. Mr. Mientkavich holds degrees in Political Science and Law from the Hebrew University Jerusalem and is a member of the Israeli Bar Association.