Valence Technology Announces Departure of Chief Financial Officer (VLNC)

Valence Technology, Inc. (NASDAQ: VLNC), a leading U.S.-based developer and manufacturer of advanced energy storage solutions, today announced the resignation of Ross Goolsby, Chief Financial Officer, effective June 3, 2011, to pursue other business opportunities. Donald E. Gottschalk, who joined the company in 2007 and is currently serving as Corporate Controller, will assume the role of Acting Chief Financial Officer.

Mr. Gottschalk has over 25 years of financial management experience and has held significant business operations, financial planning and analysis, and finance and accounting positions at Capital Anesthesiology, Inc, Cellular One, and Thermon Manufacturing Co. He has been a C.P.A. since 1986.