Exide Technologies has appointed Timothy Vargo, a current member of Exide’s Board, as president and CEO.
Vargo succeeds Vic Koelsch, who will remain an advisor to the CEO through 31 December, 2018. Vargo will remain a member of the Exide Technologies board.
“Vic made significant contributions to the company, ensuring a successful return in the transportation aftermarket, positioning the company to grow its OEM partnerships and introducing new products and services for its global motive and network power customers,” said chairman, Keith Wandell.
“Vic and the board agree 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. Tim brings the right leadership skills and operational experience to step in and immediately accelerate our transformation.”
Vargo has more than 40 years of leadership and managerial experience in automotive supply chain and process improvement. He served as president and CEO of AutoZone where he was instrumental in formulating and executing the growth strategy which took the company from 1,000 stores to 3,250 stores and sales from US$1.5bn to more than $5bn.
He has held a variety of senior executive and director positions at Auto Teile-Unger, TruckPro and Kele. Vargo is also a member of the board for Motorcar Parts of America.
Vargo will be located at the company’s global headquarters in Milton, Georgia.