CopyTele Inc. (COPY.OB) announced On Wednesday that Denis Krusos was terminated as chief executive officer of the Company effective August 21, 2012. Krusos will continue to serve as a member of CopyTele's Board of Directors.
CopyTele's Chairman of the Board, Lewis Titterton Jr., was named interim Chief Executive Officer to lead the company while a search for a new Chief Executive Officer is conducted.
Titterton, age 67, has served on CopyTele's Board of Directors since August 16, 2010 and as Chairman of the Board since July 20, 2012. Titterton is currently Chairman of the Board of NYMED, Inc. He has been with NYMED, Inc. since 1989. Titterton founded MedE America, Inc. in 1986 and was Chief Executive Officer of Management and Planning Services, Inc. from 1978 to 1986. Titterton also served as one of the Company's directors from July 1999 to January 2003.
CopyTele said its board appointed Titterton and current directors Henry Herms and George Larounis to serve on the Executive Committee, a new Board committee that will conduct the search for CopyTele's new Chief Executive Officer and perform such other duties as shall be determined by the Board of Directors.
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