Senvest Capital CEO Victor Mashaal Passes Away at 87

URGENT UPDATE: Senvest Capital Inc. has confirmed the passing of its esteemed President, Chief Executive Officer, and Chairman of the Board, Victor Mashaal, at the age of 87. His death, announced today, comes after a brief illness that has left the entire Senvest community in mourning.

Victor, who founded Senvest in 1968, was a pioneering force in Canada’s business landscape. Under his leadership, the firm began with an initial investment of just $10,000 and grew to become a significant player in industries such as anti-shoplifting technology and pay television. His legacy includes not only business success but also the mentorship he provided to countless individuals within the organization.

In an official statement, his son, Richard Mashaal, who serves as Director and Vice-President of Senvest, expressed profound sadness over his father’s death. “We all mourn the loss of a great man,” Richard stated. “He guided the Corporation through numerous transformations, ensuring its success across evolving economies. We owe him a debt of gratitude for his exceptional business acumen and caring nature.”

As a mark of respect, Senvest’s offices in Montreal will be closed until January 5, 2026. During this period, Victor’s roles will be temporarily filled by Richard Mashaal and George Malikotsis, who is currently Vice-President of Finance. Additionally, Frank Daniel, a Board member, will take over as interim Chairman.

The company has announced that George Malikotsis will also fill the board vacancy created by Victor’s passing, ensuring continuity in leadership during this transitional phase.

Senvest Capital Inc. continues to uphold the values instilled by its founder while navigating its future in the financial sector. For further information, interested parties are encouraged to contact George Malikotsis directly at (514) 281-8082.

This sudden loss of a visionary leader not only impacts Senvest but also resonates deeply within the broader financial community. Victor Mashaal’s influence and contributions will be remembered as a cornerstone of Canadian entrepreneurship.