Exide Technologies Inc. today announced it has appointed Biagio N. Vignolo Jr., who has spearheaded the restructuring process for other financially failing companies, as executive vp & CFO.
Prior to joining Exide, Vignolo served in the same capacity with Sun Chemical Corp. While there, he reorganized, streamlined and coordinated various financial functions that resulted in double-digit sales and operating profit growth for Sun Chemical for over a decade.
"We are extremely pleased to have someone of Biagio's caliber join Exide's management team at this critical time in the restructuring process," said Exide chairman and CEO Craig H. Muhlhauser.
Biagio initiated restructuring programs at Sun Chemical that resulted in annual savings of more than $100 million. Prior to that, he was vp and controller of American Bakeries Corp., where he restored profitability and growth to the company through various acquisitions and the closure and sale of unprofitable business units.