Document Security Systems Inc. said Thursday that its president and chief operating officer will assume the role of acting CEO effective Dec. 1.
Robert Bzdick is to serve as acting CEO until the completion of DSS's pending merger with Lexington Technology Group Inc., which is expected in the first half 2013, the company said. Current CEO Patrick White will step down and become a consultant to the company.
"I want to acknowledge the many years of dedication and leadership of our retiring CEO, Pat White," Chairman Robert Fagenson said in a statement. "With all the changes that DSS is undergoing, both Pat and the board decided this was the logical time for him to step away from day-to-day management duties and assume an advisory role.”
Bzdick joined DSS in 2010 when the company acquired Premier Packaging Corp., where he served as CEO and acted as president and COO since founding the company in 1989.
"I'm excited by this opportunity and anticipate great success in the new direction DSS is taking," Bzdick said. "I look forward to working with our merger partners at Lexington Technology Group as we combine and leverage our portfolios of intellectual property, and not only developing, but monetizing these assets."
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