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TheStreet Open House

Ultralife Corporation Announces Retirement Of John D. Kavazanjian, President And CEO

Ultralife Corporation (NASDAQ: ULBI) announced today that its Board of Directors has appointed Michael D. Popielec president and chief executive officer, effective December 30, 2010. Mr. Popielec replaces John D. Kavazanjian who is retiring after serving as Ultralife’s president and chief executive officer since July 1999. Following his retirement, Mr. Kavazanjian will serve as a consultant to the company through February of 2012, assisting in the company’s development plans particularly in the energy storage market.

Mr. Popielec, 48, has 25 years experience in growing domestic and international industrial businesses. Prior to joining Ultralife, he was group president, Applied Technologies at Carlisle Companies, Inc., a $2.5 billion diversified global manufacturer. Prior to that, he was chief operating officer, Americas, for Danka Business Systems, PLC. From 1985 to 2002, Mr. Popielec held positions of increasing responsibility at General Electric Company, most recently as a GE corporate officer and president and chief executive officer of GE Power Controls, the European arm of GE Industrial Systems. Mr. Popielec has a B.S. in Mechanical Engineering from Michigan State University.

Bradford T. Whitmore, Ultralife’s chairman, said, “On behalf of the board of directors, I want to thank John for his many years of distinguished service. Under his leadership, Ultralife evolved from a single product lithium battery company to a diversified business with a broadened portfolio of energy-centric products serving military and commercial customers in the US and abroad. In turning the reins over to Mike, John is leaving the company in strong financial shape with the right organizational and cost structure to support continued profitable growth.

“Mike brings an impressive set of leadership and operational skills to continue executing Ultralife’s growth strategy,” added Whitmore. “He is a seasoned executive with deep experience in both manufacturing and sales and marketing that is valuable to Ultralife as the company further extends its presence in international markets and pursues new commercial market opportunities, notably those involving emerging energy storage applications.”

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