|Ultralife Appoints Philip Fain VP of Business Development|
|Newark, NY — Ultralife (NASDAQ: ULBI) has appointed Philip A. Fain as vice president of business development. In addition, the company announced Mr. Fain's election as a corporate officer. Reporting to John D. Kavazanjian, Ultralife's president and chief executive officer, Fain's responsibilities will include supporting the ongoing integration of the company's recent acquisitions and managing the company's new business and strategic alliance opportunities.|
Mr. Fain began his career as a CPA and consultant with Arthur Anderson & Co., after which he joined Bausch & Lomb where he served in various management and executive positions including roles in corporate accounting, financial reporting and corporate audit functions. He became vice president and controller for B&L's U.S. Sunglass business and served as senior vice president of finance for the Global Eyewear business where he provided worldwide financial, information technology and business development leadership for this business, which included the Ray-Ban brand. He played a leading role in dramatically increasing the revenue base of the global business through the acquisition of some of the world's most sought after sunglass brands as well as through strategic alliances with the Porsche, Benetton and Callaway families.
Fain played a critical role in the sale of B&L's Global Eyewear business to Luxottica, SpA, where he joined the acquiring company as vice president of finance for Ray-Ban SunOptics, and was a member of the senior executive team responsible for the successful worldwide transition, restructuring and integration of the acquired businesses into Luxottica.
Fain, a founder of CXO on the GO, a management-consulting firm, provided consulting support to Ultralife during its recent acquisitions. He is also chairman of the board of Compeer, Inc., a director of several privately held companies and provides active leadership to many community and charitable causes.