22 November 2018: Lead battery giant Exide Technologies announced on November 14 that Tim Vargo had taken over as CEO and president from outgoing Victor Koelsch.
The announcement said the change would be effective immediately, but that Koelsch would remain until December 31 as an adviser to Vargo.
Vargo is on Exide’s board already, having joined Exide two years ago from Motor Car Parts of America, an automotive parts manufacturer and distributor.
He has considerable experience in the auto industry, having previously worked for TruckPro, a heavy duty truck part distributor, and before that he sat on the board of directors at ATU, a German auto parts and service provider.
Vargo was president and CEO at Kele, Inc, an independent distributor of building automation systems, before he joined Exide in June 2017.
“Having served on the board of Exide for two years I am very familiar with the company from my career in the automotive aftermarket, where I knew Exide as a supplier,” Vargo told BESB.
“I’ve come into the CEO role with a good understanding of the company’s strengths and opportunities in the marketplace. The vision I have for Exide is to be the best partner for each of our customers as their needs evolve.
“I see a huge opportunity for us to earn a greater share of their battery business by continuing to serve our customers at a high level in terms of quality and on-time delivery while also being an innovation leader in key categories.”