Valence Technology Loses CFO

Austin-based Valence Technology said today that its CFO, Galen Fischer, is resigning effective July 23, 2008. No reason for the departure was given, however the firm said that Fischer is resigning to pursue other interests. Valence said it has begun a search for a replacement, and that its day-to-day financial management responsibilities will go to Donald E. Gottschalk, the firm's Corporate Controller. Valence Technology is a developer of lithium battery technology.