US-based lead-acid giant Exide Technologies has named Timothy Vargo as president and chief executive officer to succeed Vic Koelsch.
Exide said on 14 November Vargo (pictured) had been appointed with immediate effect after Koelsch stepped down. The outgoing CEO will remain as an adviser to Vargo until the end of 2018.
Exide chairman Keith Wandell praised Koelsch’s “significant contributions”, but said “Vic and the board agree that now is the right time for a new leader with a fresh operational perspective to drive value in the next phase of Exide’s growth”.
Vargo, who will continue to serve on Exide’s board, “brings more than 40 years of leadership and managerial experience in automotive supply chain and process improvement”, Wandell said.
BEST Battery Briefing reported earlier this year that Exide was had tightening its grip on the motive power market by acquiring fast-charge tech pioneer Aker Wade Power Technologies.
