The Israeli Declaration of Independence (, Hakhrazat HaAtzma'ut or Megilat HaAtzma'ut), formally the Declaration of the Establishment of the State of Israel, was proclaimed on 14 May 1948 (5 Iyar 5708) by David Ben-Gurion, the Executive Head of the World Zionist Organization and the chairman of the Jewish Agency for Palestine. It declared the establishment of a Jewish state in Eretz-Israel, to be known as the State of Israel, which would come into effect on termination of the British Mandate at midnight that day. The event is celebrated annually in Israel with a national holiday Yom Ha'atzmaut (, lit. Independence Day) on 5 Iyar of every year according to the Hebrew calendar.