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Celestica Names Muhlhauser CEO

Stephen Delaney leaves to pusue other interests.


(CLS) - Get Celestica Inc. Report

named President Craig Muhlhauser to the additional role of CEO, succeeding Stephen Delaney, who is leaving to pursue other interests.

Muhlhauser had led the Toronto-based electronics manufacturing services firm's worldwide sales and business development. Before coming to Celestica in May 2005, he served as president and CEO of

Exide Technologies

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, a producer and recycler of lead acid batteries.

"Since joining Celestica and becoming a member of the senior executive team, Craig has been instrumental in focusing our business development activities on new, high-growth markets and we are confident that his high energy, broad executive experience and innovative leadership will ensure continued progress in the years ahead," Robert Crandall, Celestica's chairman of the board said in a press release Monday.

In its most

recent quarter, the Canadian firm beat the Street's expectations but reported ongoing execution problems at factories in Mexico, and offered a weak outlook for the fourth quarter.

Celestica shares rose 2 cents to $9.70 in extended trading. During the regular session, the company lost 6 cents to close at $9.68.