Maxwell Technologies Appoints David Russian VP, CFO, Treasurer

San Diego -- Maxwell Technologies has appointed David H. Russian VP, CFO, and treasurer, replacing Tesfaye Hailemichael, who is leaving the company to pursue other interests.

Russian, 52, most recently was CFO of General Magic, Inc., a Nasdaq-listed provider of voice infrastructure software. Previously, he was CFO of Brooktree Corp., a Nasdaq-listed semiconductor manufacturer that was acquired by Rockwell International in 1996, and before that was CFO of WordStar International Inc., a Nasdaq-listed developer and marketer of software products that was acquired in 1993.

During the 1980s, Russian was VP, controller and treasurer of Ashton Tate, one of the fastest growing software companies in the U.S., and the third largest microcomputer software company in the world. During his 30-year business career he also has held various other executive financial positions with private firms, primarily assisting them in obtaining capital and starting up operations. He became a Certified Public Accountant while working for Price Waterhouse from 1974 to 1978.

"David is a seasoned, hands-on, financial and operational executive who has been instrumental in building and rebuilding several companies," said Dr. Richard Balanson, Maxwell's president and CEO. "His leadership qualities and extensive experience in corporate finance, internal controls and multi-national operations will be great assets as Maxwell continues to expand its core businesses globally.

"We also want to acknowledge Tesfaye Hailemichael's significant contributions in rebuilding Maxwell's finance organization and strengthening our processes and controls over the past year, and we wish him well in his future endeavors," Balanson said.

Source: Maxwell Technologies