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Ultralife taps Fain for CFO post

Ultralife Corp. has named Philip Fain as chief financial officer and treasurer, effective immediately.

Fain has been serving as chief financial officer on an interim basis since Nov. 9 after John Casper resigned to pursue other opportunities. Fain will retain responsibility for business development.

“Phil has done an outstanding job of assuming the CFO responsibilities on an interim basis, particularly in directing the 2010 budget process and in working to restructure our revolving credit line to an asset-based lending facility,” said John Kavazanjian, president and CEO in a statement.

“His extensive financial experience and in-depth knowledge of Ultralife’s operations make him the perfect executive to drive profitability and working capital improvements at the company,” he added.

Fain, 55, joined Ultralife as vice president of business development in 2008. Prior to joining Ultralife, Fain served as managing partner of CXO on the Go LLC, a management consulting firm he founded in 2003. He began his career as a certified public accountant and consultant with Arthur Andersen & Co., after which he joined Bausch & Lomb Inc. where he served in various management and executive positions.

(c) 2009 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail [email protected].

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