Vishay Precision Group, Inc. (“VPG”) (NYSE: VPG) announced today, with great sadness, the passing of Dr. Felix Zandman, the inventor and founder of the foil technology upon which the VPG business is based. Dr. Zandman, who was 83 years old, was also the founder and Executive Chairman of the Board of Vishay Intertechnology, Inc. (“Vishay”) (NYSE:VSH). VPG was successfully spun of from Vishay in 2010 and Dr. Zandman served as an R&D consultant to VPG after the spinoff.
Mr. Marc Zandman, the son of Dr. Zandman, is the non-executive Chairman of the Board of VPG. Vishay announced today that its Board has elected Marc Zandman as its Executive Chairman of the Board. Mr. Ziv Shoshani, VPG’s President and Chief Executive Officer, is the nephew of Dr. Zandman and also serves on the Board of Vishay. Mr. Steven Klausner, VPG Vice President and Treasurer, is Dr. Zandman’s son-in law.
Marc Zandman said, “On behalf of VPG and the entire Zandman and Shoshani families, I am deeply proud of the many contributions my father made to Vishay, VPG, our industry and Israel, as well as the legacy he leaves behind. My father’s high standards and values are embedded in VPG’s culture and impact all that we do at VPG, across the globe, every day. We fully intend to continue his ideals in both business and personal matters.”
Ziv Shoshani said, “Dr. Zandman will never be forgotten as his legacy will live on, around the world through the many people he touched, including all VPG’s employees. VPG will continue to implement the vision, strategy and culture articulated by Dr. Zandman.”Dr. Zandman was born in 1928 in the Polish city of Grodno. In October 1941, he and his family were arrested by the Nazis and sent to the Grodno ghetto. In 1943, Dr. Zandman survived the Holocaust by hiding with his uncle and other people under the floor boards in the house of a Polish family for 17 months. While hiding, Dr. Zandman’s uncle taught him trigonometry and higher mathematics. Following the war, in 1946, Dr. Zandman emigrated to France, where he earned a mechanical engineering degree, an MS in physics from the University of Nancy (France), and a PhD in physics from the University of Paris, Sorbonne.