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PPGI Directors Re-Elected at Annual Meeting; Dr. John Rich Selected to Chair Board

Published on 2004-09-02. Author : SpecialChem


NORTHVALE, N.J. -- Photonic Products Group, Inc. reported that at its annual meeting, held last week, its shareholders approved the re-election of its five directors: Thomas Lenagh, John Rich, Frank Wiedeman, Jan Winston, and Daniel Lehrfeld, and to increase the number of common shares authorized.

At the board meeting that followed the annual meeting, Board Chairman Thomas Lenagh stepped down as Chairman citing personal reasons. Mr. Lenagh was Chairman since May 2000 and has been a member of the Board of Directors since 1998. He will remain on the Board and continue to serve on the Audit and Executive committees. Dr. John Rich, a member of the Board since March 2000, and a member of the Audit, Compensation, Executive, and Nominating committees, was elected Chairman by unanimous vote of the Board.

Dr. Rich most recently was Vice President and General Manager of C&D Technologies' Power Electronics Division. From 1990 to 1999 Dr. Rich was President of Hughes Danbury Optical Systems, Inc. and President of Raytheon Optical Systems, Inc. As Vice President of Perkin Elmer Corporation, he was responsible for three different divisions: Electro-Optics Technology, Microlithography, and System Operations. Earlier he served for twenty-two years in the U.S. Air Force, where he was Commander of the Air Force Avionics Laboratory and of the Air Force Weapons Laboratory. Dr. Rich received his B.A. and M.A. degrees in Applied Physics and a Ph.D. in Astronomy, all from Harvard University.

Dan Lehrfeld, President and CEO of PPGI commented, "All of us on the Board share my deep appreciation for Tom's contributions towards guiding the transformation of the Corporation. His insights, pragmatism, and optimism have made a difference. On behalf of the Board, our executive leadership, our employees, and our shareholders, we thank him for his service as Chairman and look forward to his continued pro-active service as a Director. With respect to John Rich, I have known and worked with John for over eight years, and I am looking forward to continuing to draw on his experience and his help in shaping PPGI's future."

Photonic Products Group, Inc. develops, manufactures, and markets products and services for use in diverse Photonics industry sectors via its expanding portfolio of distinct business units. Its INRAD business unit specializes in crystal-based optical components, devices and instruments. Its Laser Optics business unit specializes in precision custom optical components, assemblies, and optical coatings. Its customers include leading corporations in the Defense and Aerospace, Laser Systems, and Process Control and Metrology Equipment sectors of the Photonics Industry, as well as the U.S. Government. Its products are also used by researchers at National Laboratories and Universities world-wide.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These statements may be identified by their use of forward-looking terminology such as "believes," "expects," "will," "plan," or similar words. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Risks and uncertainties that could cause actual results to differ materially from such forward looking statements are, but are not limited to, uncertainties in market demand for the company's products or the products of its customers, future actions by competitors, inability to implement its growth strategy, inability to raise capital, and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. The forward looking statements made in this news release are made as of the date hereof and Photonic Products Group, Inc. does not assume any obligation to update publicly any forward-looking statement.

Source: Photonic Products Group, Inc.

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