Wednesday, June 22, 2005

C&D Technologies Appoints Graves CEO - Forbes.com

C&D Technologies Appoints Graves CEO - Forbes.com: "C&D Technologies Appoints Graves CEO
06.22.2005, 06:34 PM

C&D Technologies Inc. said Wednesday that it named Jeffrey Graves president and chief executive to replace George MacKenzie, effective July 5.

MacKenzie, a director, had served in both roles on an interim basis since the March 24 resignation of former president and CEO Wade H. Roberts Jr.

Graves, 44, previously served as CEO of Kemet Electronics Corp., a manufacturer of capacitor technologies. Before that, Graves worked in various management positions at General Electric Co., Rockwell International Corp. and Howmet Corp.

Prior to Roberts' departure, the company fell to a third-quarter loss of $7.4 million, or 29 cents per share, down from profit of $4.2 million, or 16 cents per share, a year earlier. C&D also posted losses in its subsequent fourth and first quarters.

As the new head of the company, C&D said Graves will focus on top-line growth, acquisition integration and production improvement.

The company's shares closed up 18 cents, or 2.3 percent, at $8.19 on the New York Stock Exchange. "

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