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CHARTER POWER SYSTEMS ANNOUNCES EXECUTIVE CHANGES

 PLYMOUTH MEETING, Pa., Dec. 22 /PRNewswire/ -- The board of directors of Charter Power Systems, Inc. (AMEX: CHP) today announced certain executive changes arrived at by mutual agreement with the company's chairman and chief executive officer Robert Alvine.
 Effective immediately, Alfred Weber, currently the president of the company, will assume the responsibilities as chief executive officer formerly held by Alvine. George Sbordone, currently a nonexecutive director of the company, has been elected to replace Alvine as chairman of the board.
 Alvine joined Charter Power as vice chairman in 1988 and subsequently became chairman and chief executive officer. In those capacities, he made a significant contribution to redefining the strategic direction of the company, restructuring it for long-term competitiveness and strengthening its senior management team. He will continue to be available to provide consulting services for the company on major strategic matters while he also pursues other business interests, including those related to his privately held company, I-ten Management Corp.
 The company also announced the election of Gary M. Cademartori as its new vice president-finance and chief financial officer, replacing Donald L. Nevins Jr., who is leaving the company. Cademartori joins Charter Power from Athlone Industries, Inc., where he was vice president and chief financial officer. He previously served as a senior financial executive and chief financial officer at several public companies and as a partner with Touche Ross & Company.
 Charter Power Systems is a producer and marketer of batteries and integrated power systems for the standby and motive power markets.
 /delval/
 -0- 12/22/92
 /CONTACT: Gary M. Cademartori (financial), 215-834-3893, or Yanis Bibelnieks (shareholders), 212-949-2295, both of Charter Power Systems/
 (CHP)


CO: Charter Power Systems, Inc. ST: Pennsylvania IN: SU: PER

JS-LJ -- PH035 -- 9314 12/22/92 17:19 EST
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Publication:PR Newswire
Date:Dec 22, 1992
Words:290
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