MANHASSET, N.Y. Felix Zandman, founder and longtime chief executive of Vishay Intertechnology Inc., will step down on Jan. 1, 2005, with current president and chief operating officer Gerald Paul assuming CEO duties.
Zandman co-founded Vishay in 1962 as a supplier of foil resistors. Under Zandman, Vishay has expanded to become a multi-billion dollar, broad based supplier of both active and passive components, with the company acquiring dozens of companies in recent years.
Zandman will continue to serve as chairman of Vishay's Board, and will also serve in two newly created positions, chief technology officer and chief business development officer.
Paul, who will also continue as COO, joined Vishay in 1987 and held several management positions before becoming the company's president in 1998.