After two years as president, Igel moved the headquarters from Rio de Janeiro to São Paulo, Brazil.

Under his administration, the company created and also dissociated a number of other activities that have stopped being related to Ultra's long-term strategy, such as a domestic appliances retailer (Ultralar), an engineering company (Ultratec), a frozen food organization (Supergel,) and the fertilizer industry (Ultrafértil.

)[2] Igel stepped down as CEO in 1981 and appointed Vice President Paulo Cunha to the position.

Igel became president of the Ultra's board of directors and remained its main shareholder.

[3][4] Before his death in September 1998, Igel transferred the controlling shares of Ultra to his family and to a small group of Ultra executives through the creation of a holding company.