Glenn Grunewald named new CEO at OPS


CENTENNIAL, Colo., June 3, 2002 — OnLine Power Supply Inc. (OPS) announced recently that Glenn M. Grunewald has been appointed OPS’ new Chief Executive Officer.

Grunewald, 53, has more than 20 years of management and personnel experience in the manufacturing, electrical and industrial sectors. He most recently served as Executive Vice President and Chief Operating Officer of Hubbell Inc., a pioneer in the electrical equipment industry.

He joined Hubbell as a sales representative in 1974 and was promoted through the ranks to hold executive-level responsibility for operations of Hubbell, a company with $1.4 billion in annual sales and 11,500 employees in the United States, Canada, Puerto Rico and the United Kingdom.

Grunewald succeeds Kris Budinger, who served as OPS’ CEO from March 2000 through May 2002.

“Glenn is a seasoned corporate executive with a successful track record in sales, marketing and operations,” Budinger said. “He has a long and distinguished career as a dynamic and effective leader and a proven track record in turning market potential into profitability. Glenn is taking over at an exciting time, as OPS prepares to bring its two new 48-volt power supplies to market. He is creative and energetic and I know OPS is in good hands under his leadership.”

Grunewald directed the operations of Hubbell’s lighting, wiring systems, power systems, electrical products and industrial technology divisions. He has broad experience in making corporate financial presentations to stock market analysts and developed Hubbell’s strategic business plan and restructuring plan.

“I am excited about joining the OPS team and leading the company to the next level and beyond. The OPS power supply technology is a significant asset on which to build the company, and provides great advantages to customer system designs. OPS represents a special and unique opportunity in its market arena,” Grunewald said.

Grunewald holds a Bachelor’s Degree in business administration from Adelphi University and is a graduate of the Strategic Marketing Program at Harvard University.

OPS holds a U.S patent for the process of producing AC to DC power supplies that provide efficiencies of up to 97 percent, extended operating temperature ranges and above average power densities, all with no magnetic thermal deration. This innovation is called Distributed Power Magnetics (DPM) and is the first significant breakthrough in power supply technology in over 23 years. The sophisticated DPM products also boast impressive MTBF statistics, all in the lightest and smallest footprint available for their particular configurations. Benefited industries include telecommunications, data communications, networking and industrial. For additional information, visit http://www.powersupply.com.


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