Batteries Plus Founder Ron Rezetko Retires, Leaves 175-Store Chain Legacy (7/01)

Batteries Plus Founder and CEO Ron Rezetko, chosen last month as Ernst and Young's Entrepreneur of the Year for the state of Wisconsin, today announced his retirement from the nation's first batteries-only business that he established nearly 14 years ago, passing on the lion's share of running the 175-store national retail and commercial battery chain to Russ Reynolds, current president and COO.

"The table is set. The time is right for transition and succession," noted Rezetko, who opened his first Batteries Plus store in 1988, in Green Bay, Wis., amidst skepticism that a batteries-only concept could never survive. "I began with a dream of building a successful enterprise based on a society that was becoming increasingly battery dependent, and now I can step back and allow my successor, along with our corporate, franchisee, supplier and professional support associates to continue to nurture that dream."

Effective immediately, Rezetko assumes the new role of Chairman Emeritus. He will also serve on the Batteries Plus operating committee and be available as a company consultant. Meanwhile, Reynolds will assume the bulk of Rezetko's responsibilities.

"The battery market is phenomenal," said Reynolds, who further noted that the U.S. battery demand is currently $17 billion and is projected to increase 6.4 percent per year through 2003 to $23 billion. "I am confident that with our solid position in the market and with virtually every business out there depending on batteries to run their business, Batteries Plus will continue on its path of success for years to come. Ron laid the groundwork for a bright future," said Reynolds, adding that about 60 percent of Batteries Plus' business comes from institutions, municipalities, businesses and farmers.

Rezetko's retirement comes on the heels of an announcement that last month, he was chosen as Ernst & Young's Entrepreneur of the Yearâ for the state of Wisconsin, after being nominated for the award for the fourth consecutive year. The award, which was presented on June 15, 2001, honored Rezetko as the most successful and innovative entrepreneur in Wisconsin. At the awards presentation, he was commended as someone who has truly made a difference and is paving the way for a new age of entrepreneurship.

"It is only fitting that Ron retire on such a high note," Reynolds said. "He built a successful enterprise from a concept that had many skeptics. He envisioned a portable society dependent on batteries and set out to be the pioneer in an industry providing all types of batteries and battery-related services, and saw his vision through to the end."

Rezetko took the concept of a battery outlet one step further by incorporating a Technical Center in each store for a variety of battery-related services, allowing Batteries Plus to go beyond just selling batteries to actually solving battery problems. Tech Center associates analyze and diagnose battery problems, rejuvenate rechargeable batteries through charging and conditioning, and rebuild batteries for cordless items. Technicians also design and assemble battery packs for just about any specialty item.

Batteries Plus offers literally "1000's of Batteries for 1000's of Items."^® Stores carry batteries for everything from automobiles, RVs, boats and motorcycles to cellular and cordless phones, camcorders, computers, toys and more. Batteries Plus opened its first store in Green Bay, WI in 1988, and today has more than 176 stores in 34 states, with an additional 78 stores currently under development.