Senvest Capital Founder Victor Mashaal Dies, Prompting Interim Leadership Changes
Montreal, Saturday, 27 December 2025.
Founder Victor Mashaal, who launched the firm with a $10,000 investment in 1968, has died. Executives Richard Mashaal and George Malikotsis immediately assume interim CEO duties.
Immediate Leadership Transition
Senvest Capital Inc. (TSX: SEC) confirmed on December 27, 2025, that Victor Mashaal, the company’s founder and long-serving Chairman and CEO, has passed away at the age of 87 following a brief illness [1]. This significant event has triggered an immediate restructuring of the firm’s upper management to ensure operational continuity. Effective immediately, the duties of President and Chief Executive Officer will be jointly assumed on an interim basis by Richard Mashaal, the current Vice-President, and George Malikotsis, the Vice-President of Finance [1]. Concurrently, Frank Daniel, a current board member and Secretary Treasurer, will step in as the interim Chairman [1]. To maintain board integrity, George Malikotsis has also been appointed to fill the vacancy on the Board of Directors created by the founder’s passing [1].
A Legacy of Strategic Evolution
Victor Mashaal’s tenure guided the corporation through 57 years of economic shifts and business transformations [1]. Establishing the firm in 1968 with an initial capital outlay of just $10,000, Mashaal initially focused on acquiring the Canadian rights to anti-shoplifting technology from Sensormatic Electronics Corporation [1]. His investment acumen later extended to the media sector, where he pioneered the Canadian Pay TV industry through an investment in First Choice Communications, a company he also led as CEO [1]. The modern iteration of Senvest Capital reflects this history of diversification, currently holding equity and real estate investments predominantly in the United States, alongside specific European interests that include approximately seven operating self-storage units and four under construction in Madrid, Spain [2].
Operational Status and Recent Activity
The leadership transition occurs following a period of active capital management for the Montreal-based corporation. In late 2025, Senvest remained focused on shareholder value, authorizing a share buyback plan on August 24, 2025, and launching a Normal Course Issuer Bid regarding 100,000 shares the following day [2]. The company most recently reported its financial results for the third quarter on November 7, 2025 [2]. In observance of Victor Mashaal’s passing, the company has announced that its Montreal offices will remain closed through January 5, 2026 [1].