TESSITORE NAMED EXECUTIVE VICE PRESIDENT OF BREED TECHNOLOGIES, INC.
BOONTON TOWNSHIP, N.J., March 16 /PRNewswire/ -- Breed Technologies, Inc. (NYSE: BDT), announced today the appointment of Gary Tessitore to the position of executive vice president, reporting to the chairman and chief executive officer, Allen Breed, effective March 17, 1993. Mr. Tessitore was formerly executive vice president and general manager of the agricultural equipment and components group of J.I. Case Company, Racine, Wis. He joined Case in 1988 as senior vice president and chief financial officer. Prior to his position at J.I. Case, Mr. Tessitore was vice president and controller of Ford New Holland, Inc., a subsidiary of Ford Motor Company. Mr. Tessitore, who will chair the company's executive committee, will have responsibility for corporate strategic planning, and will assist Mr. Breed in positioning the company for its continued rapid growth. Mr. Tessitore will also assume the responsibilities of Michael J. Bailey, Breed's executive vice president and chief financial officer. Mr. Bailey will not participate in, or continue with, the company after its planned June 1993 relocation of corporate headquarters to Lakeland, Fla. According to Mr. Breed: "We are very excited about the addition of Mr. Tessitore to our senior management team. We feel that his talents and experience will be of great value to Breed Technologies, Inc." Breed Technologies, Inc., is a worldwide leader in the design, development, manufacture and sale of crash sensors used in automotive airbag systems. The company also sells complete all mechanical airbag systems and is developing a complete line of electrically-initiated airbag inflators and modules for worldwide applications. -0- 3/16/93 /CONTACT: Jeff Hudson, manager - investor relations of Breed, 201-299-6500/ (BDT)
CO: Breed Technologies, Inc. ST: New Jersey IN: AUT SU: PER
GK -- NY059 -- 6642 03/16/93 14:58 EST
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|Date:||Mar 16, 1993|
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