MILTON, Ga., March 1, 2010 (GLOBE NEWSWIRE) -- Exide Technologies (Nasdaq:XIDE - News) (http://www.exide.com/), a global leader in stored electrical-energy solutions, announces that Michael Ostermann, President of the Exide Transportation Europe operating division, also will lead the Company's Industrial Energy Europe division under his new title as President -- Exide Europe. Effective March 1, 2010, Mr. Ostermann will be responsible for the commercial and operational aspects of both Exide divisions.
"At Exide, our long-term strategy is to deliver sustainable, profitable growth amid an increasingly more competitive landscape in a global economy that has changed dramatically," said Gordon Ulsh, Chief Executive Officer of Exide Technologies. "By appointing Michael Ostermann as President -- Exide Europe, we are working to establish an even greater cohesion across our European businesses. The entire Exide executive management team acknowledges his dynamic take-charge ability and strong performance track record, and we are confident that he will be instrumental in leading these efforts for both our Industrial Energy and Transportation Europe divisions."
All Industrial Energy Europe teams at Exide now will report to Mr. Ostermann in his expanded leadership role. As President -- Exide Europe, he will continue reporting to E.J. O'Leary, President and Chief Operating Officer of Exide Technologies.
"As President of the Exide Transportation Europe division, Michael has established a solid foundation for Exide's growth and long-term competitiveness. He has successfully led the charge in introducing a number of key initiatives designed to enhance the quality of our product portfolio, improve customer service in both original equipment and aftermarket sectors, and recover market share," said Mr. O'Leary. "Given his foresight and experience in change management discipline, we believe that having Michael as the single point of leadership for both our Transportation and Industrial Energy teams in Europe will allow for closer collaboration on business development and strategy implementation across both operations."
About Exide Technologies
Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups -- Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World -- provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.
Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.