NEW YORK R.
Paul Hirt Jr. has resigned as executive vice president of Exide
Technologies Inc., a leading producer of lead-acid batteries,
and president of its Exide Americas unit, effective no later
than Aug. 31.
"Paul has been a
valuable member of the executive leadership team since he
joined the company in 2011, and has led the Americas division
during a challenging period," James R. Bolch, Exides
president and chief executive officer, said in a statement.
Bruce Cole, currently
executive vice president for strategy and business development
and president of Exides Asia Pacific operations, will
assume additional responsibility for the industrial and
recycling operations within the Exide Americas business unit,
the Milton, Ga.-based company said. "Bruce is well prepared for
this challenge, given his familiarity with the industrial and
recycling operations over his 24 years with the company," Bolch
The move comes on the
heels of several months of turmoil for the battery maker,
including a June 10 announcement that the company had filed for
Chapter 11 bankruptcy protection and a July 19 objection filed
by the Environmental Protection Agency against Exides
request for post-petition financing.
The EPA indicated in
its objection that the companys request "could result in
operations in violation of applicable environmental laws,
threatening public health and safety," and that the proposed
order lacked language to "protect public health and safety in
emergencies where there is not adequate time for the debtor to
obtain approval of a budget from its lenders to use cash
collateral to comply with the law."