MADISON, Wis., Nov. 8 /PRNewswire/ -- Rayovac Corporation (NYSE: ROV)
announced today the resignation of Randall (Randy) J. Steward as executive
vice president - administration and chief financial officer. Kent J. Hussey,
president and chief operating officer and the former chief financial officer,
will reassume the chief financial officer responsibilities.
Steward joined Rayovac in 1998 as senior vice president - corporate
development from Thermoscan, a division of Gillette, based in San Diego,
Calif. He was promoted to senior vice president - finance and chief financial
officer later that year. He has decided to return to San Diego to be closer
to his children. Steward will assist in the transition through the end of the
year.
"We are sorry to lose Randy as a member of the Rayovac senior management
team," said David Jones, Rayovac chairman and CEO. "He will be missed, both
personally and professionally. However, we understand his decision and his
desire to return to California to be close to his family."
Ken Biller, executive vice president - operations and Luis Cancio,
executive vice president - Latin America will now report directly to Dave
Jones, chairman and chief executive officer. There are no current plans to
recruit a new chief financial officer.
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
CONTACT: John Daggett of Rayovac Corporation, +1-608-275-4912
