Lev Dawson Retires as Director of Valence

May 23, 2002 by Jeff Shepard

Valence Technology Inc. (Austin, TX) announced that Lev Dawson has retired as chairman of the board and as a director of the company, effective May 13, 2002. The company has appointed Stephan Godevais as the new chairman. Dawson, who will continue to be available to the company as a consultant, founded Valence in 1989 and served as chairman and CEO during his tenure with the company.

"Lev has been instrumental in developing Valence’s differentiated technology and bringing the company through its research and development phase," stated Valence President and CEO Stephan Godevais. "The company is positioned for great success, and everyone at Valence remains grateful for his many contributions over the past years."