Elbit Systems Ltd. is one of the world's largest defense electronics manufacturers and integrators. Established in 1967 and based in Haifa Israel Elbit employs 11 000 people worldwide. Elbit Systems is traded on NASDAQ as well as on the Tel Aviv Stock Exchange where it is a constitute of the TA-25 Index of leading shares; however as of 2010 over 45% of its stock is owned or controlled by Michael Federmann who serves as the company's Chairman of the Board.