Exide hires Koelsch as new chief executive

Exide Technologies has appointed Vic Koelsch as its president and chief executive officer. The appointment became effective on June 22 and follows the acceptance of the restructuring plan for the company as it moved out of Chapter 11 bankruptcy in April.

Koelsch, who joins the board of directors, takes over from Robert Caruso, who has been president and CEO since August 2013 and was brought in as a managing director from Alvarez & Marsal who has been in charge of the restructuring. Caruso was a managing director for Alvarez & Marsal in Chicago

Koelsch joins from tire manufacturer Michelin Groupe where he most recently was executive vice president of Michelin North America and chief operating officer for Michelin Americas commercial tires.

Keith Wandell, chairman of the board of directors, said: “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.

“Koelsch has 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.”

Koelsch has more than 29 years of experience in a variety of global industrial and technology businesses.

Koelsch joined Michelin in 2001 following various managerial positions with Boston Scientific (formerly SulzerMedica/Intermedics), Compaq Computer Corporation and IBM.