Exide Technologies Appoints Craig Muhlhauser CEO Effective
September 1; Robert Lutz Continues as Chairman
<
PRINCETON, N.J., Aug. 1 The Board of Directors of Exide
Technologies , the global leader in stored electrical-energy
solutions, announced today that, effective September 1, Craig H. Muhlhauser
will become Chief Executive Officer of the company in addition to his ongoing
role as President and that, effective today, he will join the company's Board
of Directors. Robert A. Lutz, who has tendered his resignation as CEO
effective September 1, will continue in his role as Chairman.
"Craig Muhlhauser is more than ready for this job," said Lutz. "He's the
one who has led Exide Technologies' swift and decisive restructuring efforts
following our important acquisition of GNB Technologies last year. Speaking
on behalf of the entire Board of Directors, I can say we have the utmost
confidence in Craig and his management team, and in the future of Exide
Technologies."
"I'm very excited to be undertaking this opportunity," said Muhlhauser.
"I'm convinced that Exide Technologies has the plans and people in place to
successfully complete our restructuring program and position our company for
growth. We have all the right ingredients: innovative technologies, global
presence, excellent customers, impressive cross-selling opportunities, a
growing service business, a good mix of strategic partners and a committed
team of Exide Technologies employees throughout the world."
Muhlhauser, 52, joined Exide Technologies on July 1, 2000, as President
and Chief Operating Officer. Since that time, he also served as a member of
the company's decision-making Office of the Chairman. Prior to joining Exide
Technologies, he was a vice president of the Ford Motor Company and president
of $19-billion Visteon Corporation (then a Ford subsidiary), where he had
direct leadership responsibility for a global business with more than
80,000 employees. During this time, he was responsible for turning a captive
parts business into a publicly traded, independent systems supplier to both
the automotive industry and the aftermarket.
Prior to joining Ford, Muhlhauser worked for Pratt & Whitney, a division
of the United Technologies Corporation, as senior vice president of sales &
service for the Americas and vice president for the global aftermarket, in
addition to holding senior management positions at Asea Brown Boveri Inc. and
Lucas Aerospace. Muhlhauser began his career at the General Electric Company
in 1971, and had a series of sales, engineering and general management
assignments during his 17-year career in GE's Aircraft Engine and Power
Systems businesses.
Muhlhauser received a Bachelor's of Science Degree in Aerospace
Engineering and a Master's of Science Degree in Mechanical Engineering from
the University of Cincinnati. He is a board member of the Motor & Equipment
Manufacturers Association and the University of Cincinnati Foundation.
About Exide Technologies:
Exide Technologies is the world's largest industrial and transportation
battery producer and recycler, with operations in 89 countries.
Industrial applications include network-power batteries for
telecommunications systems, fuel-cell load leveling, electric utilities,
railroads, photovoltaic (solar-power related) and uninterruptible power supply
(UPS) markets; and motive-power batteries for a broad range of equipment uses,
including lift trucks, mining vehicles and commercial vehicles.
Transportation uses include automotive, heavy-duty truck, agricultural,
marine and other batteries, as well as new technologies being developed for
hybrid vehicles and new 42-volt automotive applications. The company supplies
both aftermarket and original-equipment transportation customers.
