Ultralife's Bruce Jagid Resigns As CEO & Chairman of the Board

January 25, 1999 by Jeff Shepard

Ultralife Batteries Inc. (Newark, NY) announced that Bruce Jagid has resigned as CEO and Chairman of the Board, and that the board of directors has retained executive search firm Heidrick & Struggles to assist in recruiting a new CEO. The board elected Arthur Lieberman, a co-founder and director of the company, to be the new Chairman of the Board, and outside Director and company co-founder Joseph C. Abeles will assume the duties of CEO until the search is completed. Jagid will remain a member of the board of directors."I have truly enjoyed the eight years that I have devoted to this exciting company," Jagid stated. "I am proud of our many accomplishments and the progress that we have made in establishing Ultralife as a leader in the lithium battery industry. Although this was a very difficult decision for me, I felt that the time had come for me to pass the reins to someone who will lead the company to even greater levels of achievement."