Valence Technology Announces Senior Management Change

AUSTIN, Texas, Feb 19, 2008 (BUSINESS WIRE) -- VLNC | news | PowerRating | PR Charts -- Valence Technology, Inc. (NASDAQ: VLNC | news | PowerRating | PR Charts ) today announced the appointment, effective March 3, of Galen H. Fischer, CPA, as chief financial officer, replacing Thomas F. Mezger who has resigned from the company.

"We are delighted to welcome Galen Fischer to the senior management team," stated Robert L. Kanode, president and CEO of Valence Technology. "Galen brings more than 20 years of global finance, accounting and operations experience with companies ranging in size from venture-funded technology startups to a mature Fortune 100 financial services business. With his background in senior-level strategic and operational financial positions, as well as hands-on, day-to-day tactical execution skills, Galen is well prepared to lead Valence's expansion globally."

"I also want to thank Tom Mezger for his dedicated service to the company over the last few years and wish him every success in his future endeavors," added Kanode.

Prior to joining Valence Technology, Galen held the title of corporate controller for Motive, a publicly traded global communications software company. Previous to his role with Motive, he was vice president of Finance with United Devices, a venture-funded, global grid software company. During his 10 years as a private consultant, he also worked with vcfo, Inc., a business consulting firm that specializes in helping early-stage, rapid-growth companies. His clients were primarily high-tech, including software, hardware, contract manufacturing, and services. Prior to consulting, Galen was with NYLACOR for eight years, a subsidiary of New York Life. During his career with NYLACOR, he rose to the senior financial and operations positions and was responsible for Accounting, Finance, IT, Underwriting, Billing, Customer Service, Compliance, and Claims Processing.

Galen started his career in public accounting and as the senior financial officer for companies in diverse industries. Galen, 51, is a Texas Certified Public Accountant and earned a BBA in Accounting from Texas State University San Marcos, and an MBA from The University of Texas at Austin.