<SEC-DOCUMENT>0001157523-11-005103.txt : 20110817
<SEC-HEADER>0001157523-11-005103.hdr.sgml : 20110817
<ACCEPTANCE-DATETIME>20110817160517
ACCESSION NUMBER:		0001157523-11-005103
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110817
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110817
DATE AS OF CHANGE:		20110817

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VISHAY INTERTECHNOLOGY INC
		CENTRAL INDEX KEY:			0000103730
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPONENTS & ACCESSORIES [3670]
		IRS NUMBER:				381686453
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07416
		FILM NUMBER:		111042642

	BUSINESS ADDRESS:	
		STREET 1:		63 LINCOLN HWY
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
		BUSINESS PHONE:		6106441300

	MAIL ADDRESS:	
		STREET 1:		63 LINCOLN HIGHWAY
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a6833669.htm
<DESCRIPTION>VISHAY INTERTECHNOLOGY, INC. 8-K
<TEXT>
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      <font style="font-family: Times New Roman; font-size: 10pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-size: 10pt"><br style="font-size: 10pt"></font><font style="font-family: Times New Roman; font-size: 10pt"><b>Washington,
      D.C. 20549</b></font><br><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 14pt"><b>CURRENT
      REPORT</b></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 12pt"><b>Pursuant
      to Section 13 OR 15 (d) of the Securities Exchange Act of 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported):&#160;August 17, 2011</font><br><br>
    </p>
    <div style="text-align:center">
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 16pt"><b>Vishay Intertechnology, Inc.</b></font>
          </p>
        </td>
      </tr>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (Exact name of registrant as specified in its charter)
          </p>
        </td>
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    </div>
    <p style="text-align: center">
      <br>

    </p>
    <div style="text-align:center">
    <table style="margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-family: Times New Roman; font-size: 10pt; width: 100%" cellspacing="0">
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        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; width: 31%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>Delaware</b></font>
          </p>
        </td>
        <td style="width: 3%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; width: 32%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>1-7416</b></font>
          </p>
        </td>
        <td style="width: 3%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; width: 31%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>38-1686453</b></font>
          </p>
        </td>
      </tr>
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        <td style="padding-left: 0.0px; text-align: center; width: 31%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(State
            or other jurisdiction</font>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">of
            incorporation)</font>
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 32%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Commission</font>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">File
            Number)</font>
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 31%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(I.R.S.
            Employer</font>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">Identification
            No.)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-align:center">
    <table style="margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-size: 10pt; font-family: Times New Roman; width: 85%" cellspacing="0">
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        <td style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt; width: 48%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>63
            Lancaster Avenue</b></font>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>Malvern,
            PA</b></font>
          </p>
        </td>
        <td style="width: 4%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: center; border-bottom: solid black 1.0pt; width: 48%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>19355-2143</b></font>
          </p>
        </td>
      </tr>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 48%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Zip
            Code)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      Registrant&#8217;s telephone number, including area code:&#160;<font style="font-family: Times New Roman; font-size: 10pt">610-644-1300</font><br><br>
    </p>
    <div style="text-align:center">
    <table style="margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-family: Times New Roman; font-size: 10pt; width: 65%" cellspacing="0">
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          &#160;
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (Former name or former address, if changed since last report.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 5.02 &#8211; Departure of Directors or Certain Officers; Election of
      Directors; Appointment of Certain Officers; Compensatory Arrangements of
      Certain Officers.&#160;&#160;</b>
    </p>
    <p style="white-space: nowrap">
      (b)&#160;&#160;<u>Departure of Current Chief Financial Officer</u>
    </p>
    <p style="text-align: justify">
      On August 17, 2011, Dr. Lior E. Yahalomi resigned as the Executive Vice
      President and Chief Financial Officer of Vishay Intertechnology, Inc.
      (the &#8220;Company&#8221;), effective as of August 31, 2011.
    </p>
    <p style="text-align: justify">
      The Company issued a press release announcing Dr. Yahalomi&#8217;s
      resignation, which is furnished as Exhibit 99.1 to this current report
      on Form 8-K.&#160;&#160;&#160;
    </p>
    <p style="white-space: nowrap; text-align: justify">
      (c)&#160;&#160;<u>Appointment of New Chief Financial Officer</u>
    </p>
    <p style="text-align: justify">
      On August 17, 2011, effective as of September 1, 2011, the Company&#8217;s
      Board of Directors (the &#8220;Board&#8221;) appointed Lori Lipcaman, age 53, as the
      Chief Financial Officer of the Company.&#160;&#160;Ms. Lipcaman has served as the
      Executive Vice President - Finance and Chief Accounting Officer of the
      Company since September 2008.&#160;&#160;Previously, she served as the Company&#8217;s
      Corporate Senior Vice President, Operations Controller from March 1998
      to September 2008.&#160;&#160;Prior to that, she served in various positions of
      increasing responsibility in finance and controlling since joining the
      Company in May 1989.
    </p>
    <p style="text-align: justify">
      In connection with Ms. Lipcaman&#8217;s appointment to her new position as
      Executive Vice President and Chief Financial Officer, the Board, with
      the recommendation of the Compensation Committee of the Board (the
      &#8220;Compensation Committee&#8221;), approved an annualized base salary of
      &#8364;325,000 (approximately $468,000) for Ms. Lipcaman and have provided to
      her a bonus opportunity of up to 50% of her base salary.&#160;&#160;This 50% bonus
      opportunity will apply to years beginning with calendar year 2011 and
      will be determined based on the Company&#8217;s adjusted net earnings, free
      cash flow, fixed costs and corporate tax rate and her achievement of
      personal goals.&#160;&#160;Also, effective for years beginning on and after
      January 1, 2012, Ms. Lipcaman will receive an annual grant of restricted
      stock units having a value of 25% of her base salary, one quarter of
      which will be in the form of time-based restricted stock units and
      three-quarters of which will be in the form of performance-based
      restricted stock units.&#160;&#160;The number of shares subject to the grants will
      be determined based on the closing price of the Company&#8217;s common stock
      on the trading day immediately preceding January 1 of each year, and
      will vest, subject to the satisfaction of certain service and
      performance conditions, as applicable, on January 1 of the third
      calendar year beginning after the date of grant.
    </p>
    <p style="text-align: justify">
      In addition, on August 17, 2011, the Board, upon the recommendation of
      the Compensation Committee, approved an equity incentive grant to Ms.
      Lipcaman of restricted stock units having a value of &#8364;81,250
      (approximately $117,000), of which 25% will vest on January 1, 2014,
      subject to the satisfaction of the applicable service condition, and 75%
      will vest on January 1, 2014, subject to the satisfaction of the
      applicable service and performance conditions.
    </p>
    <p style="text-align: justify">
      Ms. Lipcaman has an individual contractual pension arrangement with
      Vishay Europe GmbH, a German subsidiary of Vishay, that will pay an
      annual benefit upon retirement at age 65 based on the product of (i)
      1.2% times (ii) her years of service (up to 25) times (iii) a portion of
      her compensation. The amount of compensation that will be taken into
      account was assigned in 2000 at Euro 106,800 per year and increases by
      three percent per year. The retirement benefit will not exceed 30% of
      her includible compensation. Subject to reductions by earnings from
      other employers, unemployment compensation and disability benefits, the
      amount payable under the individual contractual pension arrangement may
      commence on Ms. Lipcaman&#8217;s termination of employment by Vishay Europe
      before she attains age 65, or upon her disability. Vishay Europe has
      reserved the right to change Ms. Lipcaman&#8217;s benefits and to shorten or
      discontinue benefit payments if Vishay Europe&#8217;s financial condition is
      substantially impaired, in the event of changes in law or financial
      reporting requirements, or upon Ms. Lipcaman&#8217;s commission of an act that
      constitutes grounds for termination of employment for cause. Vishay
      Europe pays premiums pursuant to an insurance arrangement to provide
      protection of the benefit against its insolvency.&#160;&#160;In addition, the
      Company has agreed to provide up to 3 years prior notice in the event
      that it desires to terminate Ms. Lipcaman&#8217;s employment.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: justify">
      Except as disclosed herein, Ms. Lipcaman was not selected pursuant to
      any arrangement or understanding between Ms. Lipcaman and any other
      person. There are no family relationships between Ms. Lipcaman and the
      directors or executive officers of the Company.
    </p>
    <p style="text-align: justify">
      The Company issued a press release announcing Ms. Lipcaman&#8217;s
      appointment, which is furnished as Exhibit 99.1 to this current report
      on Form 8-K.&#160;&#160;&#160;
    </p>
    <p style="white-space: nowrap; text-align: justify">
      (e)&#160;&#160;<u>Compensatory Arrangements of Certain Officers</u>
    </p>
    <p style="text-align: justify">
      <u>Dr. Lior Yahalomi</u>
    </p>
    <p style="text-align: justify">
      In connection with Dr. Yahalomi&#8217;s resignation from employment by the
      Company, subject to Dr. Yahalomi&#8217;s delivery and non-revocation of an
      executed general release, the Board, upon the recommendation of the
      Compensation Committee, approved the following payments and benefits to
      Dr. Yahalomi, in addition to the payments and benefits to which Dr.
      Yahalomi would have been entitled on a Company-initiated termination
      without cause under his employment agreement which were disclosed in the
      Company&#8217;s proxy statement on Schedule 14A filed with the Securities and
      Exchange Commission on April 12, 2011 (the &#8220;2011 Proxy Statement&#8221;): (i)
      a cash lump sum payment of approximately $1,747,000, which includes
      payments in lieu of severance and certain continued medical coverage and
      on account of certain unused vacation time; (ii) acceleration of Dr.
      Yahalomi&#8217;s right to exercise his outstanding and unexercised stock
      options and the extension of his post-employment exercise period for all
      unexercised stock options to August 31, 2012; (iii) continued payment of
      the lease and insurance coverage on the automobile made available for
      Dr. Yahalomi&#8217;s use during his employment through December 31, 2011; (iv)
      reimbursement of Dr. Yahalomi&#8217;s reasonable legal fees and expenses
      incurred in connection with the negotiation and documentation of his
      resignation agreement; and (v) continuation of director and officer
      indemnity protection for Dr. Yahalomi on the same basis as provided to
      active directors and officers.
    </p>
    <p style="text-align: justify">
      <u>Dr. Gerald Paul</u>
    </p>
    <p style="text-align: justify">
      The Compensation Committee approved an amendment to the compensation
      arrangements for Dr. Gerald Paul, the Company&#8217;s President and Chief
      Executive Officer, to provide that: (i) effective for years beginning on
      and after January 1, 2012, Dr. Paul&#8217;s annual bonus will be increased
      from one percent (1.0%) of the Company&#8217;s adjusted net earnings to one
      and one-quarter percent (1.25%) of the Company&#8217;s adjusted net earnings,
      subject to a maximum payment of three times his base salary; and (ii)
      for 2011, Dr. Paul&#8217;s annual bonus will be calculated as one and
      one-eighth percent (1.125%) of the Company&#8217;s adjusted net earnings,
      subject to a maximum payment of three times his base salary.&#160;&#160;
    </p>
    <p style="text-align: justify">
      <u>Marc Zandman</u>
    </p>
    <p style="text-align: justify">
      The Board, upon the recommendation of the Compensation Committee,
      approved certain changes in the compensation arrangements for Marc
      Zandman, the Company&#8217;s Executive Chairman of the Board and Chief
      Business Development Officer, and President - Vishay Israel
      Ltd.&#160;&#160;Effective as of July 1, 2011, Mr. Zandman&#8217;s annualized base salary
      was increased from approximately $555,000 to approximately $800,000
      (paid in NIS on the basis set forth in the 2011 Proxy Statement).&#160;&#160;Also,
      effective for years beginning on and after January 1, 2012, Mr.
      Zandman&#8217;s annual bonus will be one percent (1.0%) of the Company&#8217;s
      adjusted net earnings, subject to a maximum payment of three times his
      base salary.&#160;&#160;For 2011, Mr. Zandman&#8217;s annual bonus will be calculated as
      the sum of: (i) one-half of one percent (0.5%) of the Company&#8217;s adjusted
      net earnings for 2011, plus (ii) one-half of Mr. Zandman&#8217;s annual bonus
      entitlement as calculated for 2011 under his bonus program in effect
      before the amendment to his employment agreement (under which Mr.
      Zandman had the opportunity to earn up to 200% of his base salary based
      on the Company&#8217;s adjusted net earnings and free cash flow and his
      achievement of personal goals), subject to a maximum payment of three
      times his base salary.&#160;&#160;Further, effective for years beginning on and
      after January 1, 2012, Mr. Zandman will receive an annual grant of
      restricted stock units having a value of 125% of his base salary, one
      quarter of which will be in the form of time-based restricted stock
      units and three-quarters of which will be in the form of
      performance-based restricted stock units.&#160;&#160;The number of shares subject
      to the grants will be determined based on the closing price of the
      Company&#8217;s common stock on the trading day immediately preceding January
      1 of each year, and will vest, subject to the satisfaction of certain
      service and performance conditions, as applicable, on January 1 of the
      third calendar year beginning after the date of grant.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: justify">
      In addition, on August 17, 2011, the Board, upon the recommendation of
      the Compensation Committee, approved an equity incentive grant to Mr.
      Zandman of restricted stock units having a value of $153,125, of which
      25% will vest on January 1, 2014, subject to the satisfaction of the
      applicable service condition, and 75% will vest on January 1, 2014,
      subject to the satisfaction of the applicable service and performance
      conditions.
    </p>
    <p style="text-align: justify">
      <u>Dr. Felix Zandman</u>
    </p>
    <p style="text-align: justify">
      The Board, upon the recommendation of the Compensation Committee,
      approved the following payments and benefits to the estate of Dr. Felix
      Zandman, the Company&#8217;s late founder, or his other beneficiaries and
      successors-in-interest, in addition to the payments and benefits
      provided for under Dr. Zandman&#8217;s employment agreement: (i) payment of
      Dr. Zandman&#8217;s full annual bonus for 2011, to the extent earned, which
      payment will be made at the same time that other executive bonuses are
      payable; (ii) acceleration of the estate&#8217;s right to exercise all stock
      options held by Dr. Zandman that were outstanding and unvested at the
      time of his death and the extension of the post-employment exercise
      period for all such stock options to June 4, 2012, the first anniversary
      of Dr. Zandman&#8217;s death; and (iii) an increase in the annual limit on the
      Company&#8217;s cost to continue health insurance coverage and benefits for
      Ruta Zandman, Dr. Zandman&#8217;s surviving spouse, from $15,000 to $45,000.
    </p>
    <p style="text-align: justify">
      <b>Item 9.01 &#8211; Financial Statements and Exhibits.</b>
    </p>
    <p style="text-align: justify">
      (d) &#160;<u>Exhibits</u>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 12%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 88%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Description</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
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          99.1
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 88%" valign="top">
          Press Release dated August 17, 2011.
        </td>
      </tr>
    </table>
    </div>
    <p style="white-space: nowrap; text-align: justify">

    </p>
    <p>

    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt; width: 100%">
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        <div style="text-align: left">

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        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURE </b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized. </font>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%" cellspacing="0">
      <tr>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">Date:</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">August
            17, 2011</font>
          </p>
        </td>
        <td colspan="2">

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        </td>
        <td style="width: 45%">

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          &#160;
        </td>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          &#160;
        </td>
      </tr>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            VISHAY INTERTECHNOLOGY, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">
          &#160;
        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 6%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">By:</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; border-bottom: solid black 1.0pt; width: 44%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Gerald Paul
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 6%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">Name:</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dr. Gerald Paul
          </p>
        </td>
      </tr>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">Title:</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 44%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">President
            and Chief Executive Officer</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a6833669ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Vishay
      Announces Resignation of Executive Vice President and Chief Financial
      Officer Lior Yahalomi, Appointment of Lori Lipcaman</b></font>
    </p>
    <p>
      MALVERN, Pa.--(BUSINESS WIRE)--August 17, 2011--Vishay Intertechnology,
      Inc. (NYSE: VSH), one of the world's largest manufacturers of discrete
      semiconductors and passive electronic components, today announced the
      resignation of Dr. Lior Yahalomi as Executive Vice President and Chief
      Financial Officer, effective August 31, 2011. Lori Lipcaman, currently
      Vishay&#8217;s Executive Vice President Finance and Chief Accounting Officer,
      will assume the role of Chief Financial Officer.
    </p>
    <p>
      &#8220;On behalf of our board of directors and stockholders, I would like to
      thank Lior for his devoted service to Vishay, and his leadership role in
      many important initiatives he undertook on behalf of Vishay,&#8221; said Marc
      Zandman, Executive Chairman of Vishay. &#8220;He leaves Vishay in great
      financial condition to execute our growth strategy going forward.&#8221;
    </p>
    <p>
      Dr. Gerald Paul, Vishay&#8217;s President and Chief Executive Officer, added,
      &#8220;As Chief Financial Officer, Lior spearheaded several significant
      transactions for the benefit of stockholders, including the spinoff of
      Vishay Precision Group, two stock buyback programs totaling $425
      million, and the establishment of a $450 million revolving credit
      agreement. He also worked closely with me in restructuring Vishay to
      improve profitability and stabilize the Company during the economic
      crisis. We certainly wish him the very best in his future endeavors.&#8221;
    </p>
    <p>
      Dr. Yahalomi assumed the role of Executive Vice President and Chief
      Financial Officer in September 2008. Previously, he served as Vishay&#8217;s
      Corporate Senior Vice President, Mergers &amp; Acquisitions from June 2006
      to September 2008. Prior to joining Vishay, Dr. Yahalomi held several
      executive positions in the technology, financial services, and venture
      capital industries.
    </p>
    <p>
      Dr. Yahalomi stated, &#8220;With the untimely passing of Dr. Felix Zandman,
      who served as a mentor to me, and the completion of these initiatives to
      build a stronger company and increase stockholder value, it is time to
      explore new career opportunities and challenges.&#8221; He continued, &#8220;It has
      been an honor to work with Vishay and the remarkable Dr. Zandman during
      my tenure.&#8221;
    </p>
    <p>
      Ms. Lipcaman will assume the role of Chief Financial Officer on
      September 1, 2011 and will report to Dr. Paul. Ms. Lipcaman was
      appointed Executive Vice President Finance and Chief Accounting Officer
      in September 2008. Previously, she served as Vishay&#8217;s Corporate Senior
      Vice President, Operations Controller, from March 1998 to September
      2008. Prior to that, she served in various positions of increasing
      responsibility in finance and controlling since joining the Company in
      May 1989. Ms. Lipcaman holds a bachelor&#8217;s degree from the University of
      Michigan.
    </p>
    <p>
      &#8220;I would like to thank the board of directors for their confidence in me
      with this appointment,&#8221; said Ms. Lipcaman. &#8220;I look forward to this next
      challenge, the increased scope of responsibility, and contributing to
      Vishay&#8217;s strategic vision.&#8221;
    </p>
    <p>
      Dr. Paul added, &#8220;Given Lori&#8217;s long affiliation with the Company and her
      outstanding performance as Chief Accounting Officer, her appointment to
      Chief Financial Officer is a natural one. Her institutional knowledge
      will serve Vishay well in the years to come, and allow us to continue on
      our plan for long-term growth as outlined by our founder Dr. Felix
      Zandman.&#8221;
    </p>
    <p>
      <b>About Vishay</b>
    </p>
    <p>
      Vishay Intertechnology, Inc., a Fortune 1,000 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&#8217;s product innovations, successful acquisition strategy,
      and &quot;one-stop shop&quot; service have made it a global industry leader.
      Vishay can be found on the Internet at <u>http://www.vishay.com</u>.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>Vishay Intertechnology, Inc.<br>Peter G. Henrici<br>Senior
      Vice President, Corporate Communications<br>+1-610-644-1300
    </p>
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