Exide Technologies' CEO To Step Down By April

NJBIZ STAFF//August 9, 2005//

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Lawrenceville’s Exide Technologies (Nasdaq: XIDE) said Tuesday its president and CEO Craig H. Muhlhauser will leave the company by next April. The company also announced the appointment of J. Timothy Gargaro as executive vice president and CFO.In a press release, the manufacturer and supplier of lead acid batteries said Muhlhauser, who has been Exide’s CEO since 2001, is leaving the company to pursue other opportunities. The company’s board has retained a nationally recognized executive search firm to assist it in identifying his replacement.Gargaro, C.P.A., joins Exide with more than 20 years experience with Tier 1 suppliers to the automotive industry. Prior to joining Exide, he was CFO and executive vice president of Oxford Automotive. He earned a bachelor’s degree in accounting and economics from the University of Detroit and an executive MBA from Michigan State University. At the close of trading, Exide’s shares were down $0.10 to $15.68.