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Before founding the Kardan group of companies in 1990, Mr. Grunfeld was active in the diamond business. As of the start of the Kardan group of companies until December 2012, Mr. Grunfeld served as a director in various Israeli companies that were or still are either subsidiaries of, or associated with the Kardan Group. Currently, Mr. Grunfeld is Chairman of the Board of Directors of the separately listed and independent company Kardan Israel Ltd., Chairman of the Board of Directors of Kardan Yazamut (2011) Ltd., Director of Universal Motors Israel Ltd. as well as Director in various other companies in Israel.

Mr. Grunfeld is married and has 4 children.