In October or November of 1970 Paul Specht resigned as Executive Vice President of Engineering for Chapman, Goldsmith and Yamasaki. He had no immediate plans when he left but found himself in business almost overnight when former clients of Chapman, Goldsmith and Yamasaki began calling him for design services.
Prior to working for Chapman, Paul served as a tank commander in WWII in both the North African Campaign and at Normandy. After the war, Paul worked briefly for OWI in France then returned to the United States where he briefly attended Valparaiso University before moving to Chicago to attend the School of the Art Institute where he had received an art scholarship.

During his first year at the School of the Art Institute, he discovered Industrial Design and quickly switched his major. While still a student, Paul began consulting for businesses connected with the American Furniture Mart. Paul’s early successes lead to an increasing demand for his services and in 1949 he established his own firm, PBS Design. In 1952 Russel Wright hired Paul as a staff designer for his New York studio. Paul worked for Wright for a year before accepting a position with Dave Chapman in Chicago. During his time at Chapman, Goldsmith and Yamasaki, Paul rose to the position of Executive Vice President of Engineering, a position which he held until his departure in 1972. Paul was responsible for bringing in numerous clients to Chapman including Johnson Outboard Motors, International Harvester, and Studebaker Worthington.

Within a few weeks of Paul’s departure from Chapman, Bill Goldsmith and Kim Yamasaki left Chapman and joined him. They chose the order Goldsmith, Yamasaki and Specht because they thought that it sounded the best. Though many of the accounts that Paul had been in charge of at Chapman found their way to GYS, none were ever solicited. The first office for GYS was at 35 East Wacker Drive.

In 1996, GYS was purchased by First Design in Kansas City, Kansas. David McCormick, a partner in First Design, became president of GYS. In 1999. GYS sold the Chicago office to Sundberg-Ferar.

Paul Specht continues to provide industrial design services through the company that he established in 1949, PBS Design.