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Alpharetta, Georgia - (February 6, 2008)
- Exide Technologies (NASDAQ: XIDE, www.exide.com), a global
leader in stored electrical-energy solutions, announced today that
its Board of Directors has appointed Phillip A. Damaska, 53, as
the Company’s new Executive Vice President and Chief Financial Officer,
effective April 1, 2008.
Mr. Damaska brings more than 30 years of experience to his new role
at Exide. He joined the Company in January 2005 as Vice President,
Finance and was subsequently appointed Vice President and Corporate
Controller in August of that same year. Since March 2006, Mr. Damaska
has held the position of Senior Vice President and Corporate Controller
and has overseen all of the Company’s internal and external financial
reporting, the preparation of annual operating plans and forecast
updates as well as provided guidance in the Company’s efforts to
comply with requirements of the Sarbanes-Oxley Act.
From 1996 through 2004, Mr. Damaska held a variety of positions
at Freudenberg-NOK, the Americas joint venture partnership between
Freudenberg and Company in Germany and NOK Corporation in Japan.
Freudenberg-NOK provides an extensive portfolio of precision molded
products to the aerospace, aftermarket, fluid power, oil and gas,
marine, healthcare/medical, off-highway equipment, recreational,
industrial, chemical processing and semiconductor markets worldwide.
During his tenure, he served as President of Corteco, an automotive
and industrial seal supplier that is part of the Freudenberg-NOK
global group of companies. He also held several finance related
positions of increasing responsibility.
“During his time at Exide, Phil has demonstrated leadership and
financial acuity while earning the respect of the entire executive
team and our Board of Directors,” said Gordon A. Ulsh, President
and Chief Executive Officer of Exide Technologies. “He has played
a fundamental role in strengthening Exide’s stability and profitability,
and his guidance as Chief Financial Officer will help the Company
as we drive toward achieving our goals of growth and profitability.”
Mr. Damaska holds a Bachelor’s Degree in Accounting from Albion
College and an MBA from the University of Detroit. He also is a
Certified Public Accountant in the state of Michigan.
Mr. Damaska succeeds Francis M. Corby, Jr., who has served
Exide as Executive Vice President and Chief Financial Officer since
March 2006. During his tenure, Mr. Corby has been instrumental
in helping the Company refinance its bank debt and complete two
separate equity rights offerings. He plans his retirement to coincide
with the conclusion of the Company’s fiscal year 2008.
“As a mature, experienced leader, Fran infused Exide with financial
stability at a critical time in our Company’s evolution, bringing
a number of internal issues under control,” said Ulsh. “He took
the lead, for example, in strengthening our corporate accounting
controls and compliance with Sarbanes-Oxley. We are grateful for
his many contributions that have strengthened our position in the
financial marketplace.”
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