VLNC preparing for IPO? AUSTIN, Texas, Jan. 8, 2014 /PRNewswire-iReach/ -- Valence Technology, a manufacturer of safe, long-life lithium iron magnesium phosphate advanced energy storage solutions, today announced the appointment of three new Vice Presidents.
William (Bill) Ott has been named Valence's new Vice President of Sales and Marketing. Bill brings a wealth of experience and knowledge of the lithium battery industry to Valence. Bill was most recently co-founder, President and CEO of ActaCell, Inc., a company formed to develop a Li-Ion battery chemistry recently discovered by the University of Texas's material sciences program. Bill's experience also includes roles as VP of Worldwide Field Operations for Active Power and Entrepreneur in Residence for StarTECH Early Ventures. Bill's educational background includes an MBA (Finance) and BSEE from the University of Missouri – Columbia.
Paul Krueger has been promoted to Vice President of Engineering. Paul joined Valence Technology in May, 2011, as Director of Engineering & Operations. Paul's educational background includes a MS degree in Electrical Engineering from the University of California at Berkeley and a BS degree in Electrical Engineering from the University of Wisconsin at Madison. As Vice President of Engineering, Paul will be responsible for Valence's total engineering and product development initiatives.
Donald E. Gottschalk has been promoted to Vice President of Finance. Don will oversee all aspects of the Company's financial organization and responsibilities, including accounting, treasury, insurance, financial record keeping and analysis. Don is a Certified Public Accountant and his educational background includes a BS in Accounting from the University of Texas at Austin. Don's responsibilities will also include a focus on implementing processes to control spending levels and cash outflow across the company's four worldwide operating divisions.
"Phase 1 of our business organization plan was to formulate a turnaround plan and exit Chapter 11 successfully. Now that Phase 1 has been completed, we are moving on to Phase 2 which is to quickly reach profitability by executing our turnaround plan and to continue the reputation of Valence as the global leader in the Lithium ion battery industry. I am very pleased to be able to announce the appointment of our three new Vice Presidents who, along with the rest of the Valence team, will be working very hard to make sure Phase 2 of our business reorganization plan is a success," says President and CEO, T. Joseph Fisher.
For more information please visit www.valence.com
Media Contact: Paul Malone, Valence Technology, 512-527-2971, paul.malone@valence.com
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