New Management at Electrosource
22 January 1999
New Management at ElectrosourceSAN MARCOS, Texas, Jan. 22 -- Electrosource, Inc. ("the Company") today announced the appointment of new corporate officers as follows: William F. Griffin, President and Chief Executive Officer; Benny Jay, Executive Vice President and Chief Technical Officer; Chris Morris, Vice President and Chief Operating Officer; and Mary Beth Koenig, Chief Financial Officer and Treasurer. The appointments were approved at a meeting of the Board of Directors held on Friday, January 15, 1999. William Griffin has been employed at Electrosource since April 1996 as Executive Vice President-Marketing. He has been the Acting Chief Executive Officer since December 7, 1998 following the resignation of Michael Semmens, the former Chairman of the Board, President and Chief Executive Officer of the Company. Mr. Griffin was formerly a Corporate Vice President with COMPUSA and has spent most of his career in senior management positions focusing on sales, marketing and strategic planning within large corporations. Benny Jay has been employed at Electrosource since its inception in 1987 in numerous technical, marketing and management capacities. Mr. Jay was the first official employee of Electrosource and has significant experience with Electrosource's Horizon technology and has been instrumental in introducing that technology to a variety of customers worldwide. Chris Morris was also one of the original employees of Electrosource in 1987 and has worked in numerous technical and management capacities at the Company. Mr. Morris has significant experience with manufacturing operations at Exide and GNB, two large manufacturers of lead-acid batteries. Mary Beth Koenig has been employed at Electrosource since November 1995 as Treasurer and Controller. She has been the Acting Chief Financial Officer since December 7, 1998. Ms. Koenig was formerly a Senior Manager with Ernst & Young, LLP. Electrosource, headquartered in San Marcos, Texas, designs, manufactures and markets proprietary advanced energy storage technologies and systems. Additional information about the Company is located on the internet at http://www.electrosource.com. This release contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those discussed in this release. Risks include financial risks, development risks, manufacturing risks, uncertainty of market acceptance, delay in shipment or cancellation or orders, customer reorganization, as well as other risks that are detailed from time to time in the company's Securities and Exchange Commission filings.