Exide names CEO Muhlhauser also as chairman

PRINCETON, N.J., May 17 Reuters reported that Exide Technologies Inc., the world's largest automotive battery maker, on Friday said it named Chief Executive Craig Muhlhauser to the additional post of chairman, effective immediately.

Muhlhauser replaces Robert Lutz, who resigned as chairman but will remain a director of the bankruptcy company.

Princeton, New Jersey-based Exide filed for Chapter 11 bankruptcy protection last month, weighed down by debt incurred from an aggressive acquisition spree and a slowing auto industry.

Editors Note: Can someone please explain how an old line company like Exide can be screwed up enough to go Bankrupt and what hapened to the responsible executives????