Rayovac: Announces Management Change
Media, John Daggett, +1-608-275-4912, or Investors, Nancy O'Donnell, +1-404-992-9001, both of Rayovac Corporation
MADISON, Wis., March 19 /PRNewswire-FirstCall/ -- Rayovac Corporation (NYSE:ROV) announced today the resignation of Stephen P. Shanesy, executive vice president, strategic initiatives. Mr. Shanesy has elected to leave his position effective March 31, 2004. After joining Rayovac in 1996 as senior vice president of marketing and general manager of general batteries, Mr. Shanesy went on to serve in a variety of roles, including executive vice president - North America, before assuming his current role in January 2004.
"In the eight years that Steve has been part of the Rayovac organization, the company has doubled in size and grown to be a global player in the consumer products industry. Steve's leadership was an integral part of this success. We appreciate his many contributions and wish him and his family the best," said David Jones, Rayovac chairman and CEO.
Facts About Rayovac
Rayovac Corporation is a global consumer products company with a diverse portfolio of world-class brands, including Rayovac, VARTA and Remington. The Company holds many leading market positions including: the world's leader in hearing aid batteries; the top selling rechargeable battery brand in North America and Europe; and the number one selling brand of men's and women's foil electric razors in North America. Rayovac markets its products in more than 100 countries and trades on the New York Stock Exchange under the ROV symbol.
Certain matters discussed in this news release, with the exception of historical matters, are forward-looking statements within the meaning of the Private Securities 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, such as introduction of new product features or technological developments, development of new competitors or competitive brands or competitive promotional activity or spending, (2) changes in consumer demand for the various types of products offered by Rayovac or Remington, (3) changes in the general economic conditions where we do business, such as stock market prices, interest rates, currency exchange rates, inflation and raw material costs, (4) our ability to successfully implement manufacturing, distribution and other cost efficiencies and (5) various other factors, including those discussed herein and those set forth in Rayovac's most recently filed Annual Report on Form 10-K.