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News Release -
Steward Rejoins Rayovac as CFO
MADISON, Wis., Aug. 21 /PRNewswire-FirstCall/ -- Rayovac Corp. (NYSE: ROV)
announced today that Randall (Randy) J. Steward has rejoined the company as
executive vice president and chief financial officer, effective immediately.
Steward left Rayovac for personal family reasons in December 2001.
(Photo: http://www.newscom.com/cgi-bin/prnh/20020716/ROVLOGO )
Prior to his resignation last year, Steward served as Rayovac's chief
financial officer for four years. Steward joined Rayovac in 1998 from
Thermoscan, a division of Gillette, based in San Diego, Calif., where he
served the roles of divisional president and general manager. He previously
served as Thermoscan's chief financial officer.
Rayovac President Kent J. Hussey, who had served as chief financial
officer since Steward's December departure, will relinquish his chief
financial officer responsibilities, and re-assume the role of president and
chief operating officer.
"We are extremely pleased to have Randy rejoin the Rayovac Team. His
financial expertise and management skills were invaluable to the Company in
the past," said David Jones, Rayovac chairman and CEO. "Randy's vast
knowledge of our business and the battery industry will be instrumental as we
integrate our latest acquisition -- Varta -- into Rayovac's global business.
This acquisition, which is expected to close this fall, will extend Rayovac's
global reach to more than 100 countries and make us one of the world's largest
battery and lighting product companies.
"Randy's expertise in all aspects of financial accounting, bank financing,
investor relations and information technology will greatly improve the
integration of the Rayovac-Varta businesses. His strong relationship and
credibility with the financial community will further enhance his immediate
impact upon the Company," Jones added.
Rayovac is one of the world's leading battery and lighting device
companies and the fastest growing manufacturer of general batteries in the
United States. The Company also markets the number one rechargeable brand of
battery and is the world leader in hearing aid batteries. Rayovac is traded
on the New York Stock Exchange under the symbol ROV.
Certain matters discussed in this news release, with the exception of
historical matters, are forward-looking statements within the meaning of the
Private Litigation Reform Act of 1995. These statements are subject to a
number of risks, uncertainties and other factors that could cause results to
differ materially from those anticipated as of the date of this release.
Actual results may differ materially from these statements as a result of (1)
changes in external competitive market factors, including any introduction of
new product features or technological developments, development of new
competitors or competitive brands or competitive promotional activity or
spending, (2) unanticipated changes in consumer demand for the various types
of consumer batteries, (3) unanticipated changes in the general economic
conditions where we do business, such as stock market prices, interest rates,
inflation and raw material costs, (4) risks related to protection of our
intellectual property and risks related to third party infringement claims and
(5) various other factors, including those discussed herein and those set
forth in the Company's security filings, including its most recent Form 10Q,
Annual Report on Form 10-K and the prospectus supplement for the Company's
most recent public offering of its common stock.
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SOURCE Rayovac Corporation
Web site: http: //www.rayovac.com
Photo: http: //www.newscom.com/cgi-bin/prnh/20020716/ROVLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, 888-776-6555 or 212-782-2840
CONTACT: John Daggett of Rayovac Corporation, +1-608-275-4912
CAPTION: ROVLOGO RAYOVAC LOGO Rayovac is one of the world's leading battery and lighting device companies. The company also markets the number one selling rechargeable brand of battery and is the world leader in hearing aid batteries. Rayovac trades on the New York Stock Exchange under the ROV symbol. (PRNewsFoto)[TK JL] MADISON, WI USA 08/16/2002