Technology

Exide Technologies appoints new president, CEO

May 26, 2015

The board of directors of Exide Technologies announced that Victor (Vic) M. Koelsch has been appointed president and CEO of the company, effective June 22. According to the company, Koelsch will also join the company's board of directors at that time, and he will succeed Robert M. Caruso, Exide's current CEO, who served as president and CEO since August 2013 and guided the company through its recent Chapter 11 restructuring.Koelsch, 51, is employed with the Michelin Groupe, a global company in the design, manufacture and sales of tires for every type of vehicle, including airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks and motorcycles, Exide said. Since 2011, Koelsch has served as executive vice president, Michelin North America and chief operating officer for Michelin Americas Commercial Tires. From 2007 to 2011, he was president of Michelin's Worldwide Original Equipment Business Unit and, prior to this role, served as the Michelin Groupe's vice president and global chief information officer from 2001 to 2007, Exide said.Exide said its stakeholders and new board of directors participated in a comprehensive search for a CEO to lead the company following its recent restructuring."The company's selection of Vic Koelsch as Exide's next president and chief executive officer is yet another sign that the company is well-positioned for growth as it continues restructuring efforts that began two years ago," said Keith E. Wandell, board chairman. "Vic is an experienced senior executive with a proven track record for profitably managing and growing sophisticated businesses. He possesses extensive experience in both the Original Equipment and aftermarket/retail channels in automotive as well as having years of experience developing services and solutions for a broad array of industrial customers during his time in the IT industry," added Wandell.Koelsch has more than 29 years of experience in a variety of leading global industrial and technology businesses, Exide said. "I am honored and proud to serve as Exide's new president and chief executive officer, a company that has a proud 127-year history. I am grateful for Bob Caruso's leadership during Exide's recent restructuring, which has resulted in a better capitalized company positioned for growth," said Koelsch. "I look forward to working with Exide's new board and leading the company and its almost 10,000 employees worldwide in building an exciting new future for Exide Technologies."