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President George W. Bush Delivers Keynote Speech at EIA Event; Vishay Chairman and CEO Dr. Zandman Receives EIA Medal of Honor
MALVERN, PENNSYLVANIA - May 11, 2001 - This year's Electronic Industries Alliance (EIA) Government-Industry Dinner, held May 8 at the Grand Hyatt Hotel in Washington, DC, featured a keynote address by U.S. President George W. Bush and presentation of the 2001 EIA Medal of Honor to Dr. Felix Zandman, Chairman and CEO of Vishay Intertechnology, Inc. (NYSE: VSH).
President Bush's address to the crowd of approximately 700 business, industry, and government leaders focused on Presidential initiatives and policies. During his address, President Bush congratulated Medal of Honor recipient Dr. Zandman. EIA presents the Medal of Honor each year to an individual who has made outstanding contributions to the advancement of the electronic industries.
Following President Bush's address and dinner, EIA Chairman Clifton Smith presented the 2001 EIA Medal of Honor to Dr. Zandman. EIA President Dave McCurdy introduced Dr. Zandman, who is an American and Israeli citizen, and read a letter of recognition from Israeli Prime Minister Ariel Sharon that noted Dr. Zandman's business accomplishments, "vision, leadership, and courage," and "involvement in community, civic, and philanthropic endeavors."
Dr. Zandman, in his acceptance speech, explained that May 8, the date of the 2001 EIA Medal of Honor ceremony, was the date in history that Germany surrendered during World War II and thus the date that he regained his freedom.
Dr. Zandman recounted the story of his survival during the war, when he was saved by a Catholic family in Poland that helped him and others to hide from the Germans. He traced this courageous action by the family that sheltered him to the fact that the family felt a debt of gratitude for past acts of friendship and help provided by his grandmother. Dr. Zandman pointed out in his speech that this link between his grandmother's acts of generosity to the Polish family and the subsequent help given to him by that family, which literally saved his life, demonstrated the essential truth of his grandmother's teachings: "All that you have is what you give away; it's yours even after you die."
Dr. Zandman explained that he named the company he founded in the U.S. in honor of his grandmother: Vishay is the name of the small Lithuanian village where she was born.
Telling the story of his journey from Holocaust survivor to Chairman and CEO of a high-tech multinational corporation, Dr. Zandman expressed gratitude to the U.S for giving him, as an immigrant from Europe, the opportunity to build a successful company and contribute to the Jewish people. "I owe to America what I've become; I owe to Israel my identity as a Jew," he told the audience. "Only in America could I have prospered and built Vishay," he said. "America and Israel are in my heart, and I pray to God every day for their strength and prosperity in a peaceful world."
Dr. Zandman identified five principles as the foundations of his business doctrine and the key to Vishay's success: leadership, motivation, expertise, discipline and, most important of all, "clean hands," meaning integrity and honesty in thought and deed.
He thanked his wife, Ruta, and Vishay management, stating "This medal belongs to them. Their hard work and inventiveness had made Vishay what it is today - I applaud them."
Earlier in the evening, during a private meeting with President Bush, Dr. Zandman presented him with a copy of his autobiography, titled Never the Last Journey.
Dr. Zandman founded Vishay Intertechnology in 1962. Under his leadership, Vishay has become a leading global manufacturer of passive electronic components and semiconductor components. A noted author and innovator, Dr. Zandman has published three textbooks and many scientific papers, and holds 39 patents in the U.S. and abroad.
Previous awards received by Dr. Zandman include the Order of Merit for Research and Invention (France), Distinguished Contribution Award from the American Society for Stress Analysis, Franklin Institute Medal for Science, Best Strategic Investor Award from the Israel Manufacturers Association, and Legion of Honor awarded by the President of France. He holds a mechanical engineering degree and MS in physics from the University of Nancy (France) and a PhD in physics from the University of Paris, Sorbonne (France). He was awarded the title of Doctor Honoris Causa from the University of Beer Sheva (Israel) and from the Israel Institute of Technology (Technion). The Electronic Industries Alliance (EIA) comprises more than 2,100 members that represent 80 percent of the $550-billion U.S. electronics industry. The Alliance encompasses six sector associations, including the Electronic Components, Assemblies & Materials Association (ECA), which represents manufacturers and producers of passive and active electronic components, component arrays and assemblies, and materials and support services. ECA and its sector partners benefit from a dynamic link into a network of programs and activities in areas such as business and technical information, market research trends and analysis, access to industry and government leaders, technical and education training, and others. EIA can be found on the Internet at www.eia.org.
Vishay Intertechnology, Inc., a Fortune 1000 Company listed on the NYSE (VSH), is one of the world's largest manufacturers
of discrete semiconductors (diodes, MOSFETs, and infrared optoelectronics) and passive electronic components (resistors, inductors,
and capacitors). These components are used in virtually all types of electronic devices and equipment, in the industrial,
computing, automotive, consumer, telecommunications, military, aerospace, power supplies, and medical markets. Vishay’s product
innovations, successful acquisition strategy, and "one-stop shop" service have made it a global industry leader. Vishay can
be found on the Internet at www.vishay.com.