Performance Tech CEO Resigns

Michael steps down as president and CEO; board has appointed chairman John Slusser, to take on the role until a successor is found

October 13, 2006

1 Min Read

ROCHESTER, N.Y. -- Performance Technologies, Inc. (NASDAQ: PTIX), today announced that Michael P. Skarzynski has submitted his resignation as President, Chief Executive Officer and as a member of the Board of Directors, for personal reasons effective immediately. The Board of Directors has accepted Mr. Skarzynski's resignation and has appointed current Chairman, John M. Slusser, to serve as interim President and Chief Executive Officer until a successor to Mr. Skarzynski can be found. During the transition period, Mr. Slusser will continue in his role as Chairman.

Mr. Slusser, age 53, previously served as the Company's President and Chief Executive Officer from 1986 to 1995. He is the Founder of the Company and has been a director since its inception in 1981. He has served as Chairman of the Board since 2001.

The Board of Directors has established an Executive Transition Committee, which will oversee the process through which a new Chief Executive Officer will be selected.

"I look forward to working closely with our dedicated senior management team and the entire Performance Technologies' organization while we work through this transition," said Mr. Slusser. "We are excited about the opportunities we see for the Company moving forward and I have great confidence in the Company's current and future prospects."

Performance Technologies Inc. (Nasdaq: PTIX)

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