The British photobooth maker and operator, which calls itself "the instant service equipment group," said it expects improved financial performance over the coming year. LONDON - On the heels of cost-cutting measures and robust performance of its core business, Photo-Me International said its adjusted pretax profit rose 28% million for the year ended April 30, 2011. Our thoughts are with his wife and son at this time."ĭavid is survived by his wife, Gabriela, and a son, Ariel. "He contributed more than anyone to the growth of the group from the 1960s to the 1990s, and continued to be a wise and respected colleague. "Dan was a charming man who continued to work with tremendous energy, despite his advancing years," said Crasnianski, Photo-Me's chief executive. He left Romania for France in 1960 and later settled in Israel. When he requested an exit permit from the Romanian secret police, his past as a Zionist was revealed and the newspaper fired him. In 1958, his newspaper asked him to go to West Germany on an assignment. He became a press photographer after finishing his university studies in economics. The first prizes were awarded in 2002.īorn in Romania, David had been a member of a Zionist youth movement. To support the philanthropic program, David created a foundation with $100 million endowment. He was also the founder of the Dan David Prize, which awards three $1 million prizes annually to people who contribute to human achievement in the realms of past, present and future. When David was chairman of Photo-Me in 1999, the value of his and board member Serge Crasnianski's shares were reportedly valued at £210 million and £200 million, respectively. In 2005, Photo-Me honored the automatic photo machine pioneer with the title Life President of the Company. David eventually became the principal shareholder in Photo-Me.ĭavid served on the Photo-Me board from 1968 to 2007, holding the title of executive chairman twice and nonexecutive chairman once, and from July 2009 as a nonexecutive director. He was 82.ĭan David, A Pioneer In Automatic Photo Machines, Dies | Articles | Articles | Vending Times Inc.ĭavid prospered in the photobooth business, starting his career in the early 1960s by purchasing a franchise from Photo-Me International with a $200,000 loan from a French businessman who became his partner for many years. 5 in a London hospital after a serious illness.
LONDON - Businessman and philanthropist Dan David died on Sept. Dan David, A Pioneer In Automatic Photo Machines, Dies