XP Power Ltd Appointment of Chief Financial Officer
April 29 2021 - 1:00AM
UK Regulatory
TIDMXPP
29 April 2021
XP Power Limited
("XP Power", "the Group" or "the Company")
Appointment of Chief Financial Officer
XP Power is pleased to announce the appointment of Oskar Zahn as Chief
Financial Officer (CFO) with effect from 4 May 2021 and he will be appointed as
an Executive Director of the Board at the next Board meeting currently
scheduled for 20 May 2021.
Oskar succeeds Gavin Griggs following his appointment as Chief Executive
Officer on 1 January 2021.
Oskar brings with him over 30 years' experience of working within large complex
international businesses with continuous improvement and growth focused
cultures. Most recently he was CFO at Scapa Group plc, a leading global
manufacturer to the Healthcare and Industrial markets, from 2018 until its
acquisition by SWM International, Inc. earlier this year. Prior to Scapa,
Oskar was CFO at Spearhead International, a leading vertically integrated food
and agriculture business operating in Central and Eastern Europe and the UK. He
joined Spearhead in September 2008 and the group doubled in size through a
combination of organic growth and acquisitions during his tenure. Prior to
Spearhead, Oskar held leadership roles at Telefex, British Airways and
Georgia-Pacific.
Oskar's appointment follows an extensive search and selection process.
James Peters, Chairman of XP Power, said:
"I am delighted to welcome Oskar to XP Power as CFO. We are confident that his
listed company experience, together with the wealth of skills and knowledge he
has accrued in senior roles within fast growing businesses will be a valuable
asset to XP Power. XP Power has ambitious, global growth plans and we look
forward to Oskar's contribution."
Oskar Zahn added:
"I am excited to join XP Power, a business that has a proven track record of
growth and be part of the next phase of its development."
The Board would like to thank Johan Olivier, Acting CFO, for leading the
finance team over the last four months and look forward to his continuing
contribution to the success of the Group in his role as Group Finance Director.
Mr Zahn was a director of Spearhead Academy Limited from 31 October 2016 until
the company was dissolved on 7 November 2017. There are no other disclosures
to be made pursuant to Listing Rule 9.6.13.
Enquiries:
XP Power
Gavin Griggs, Chief Executive Officer +44 (0)118 976 5155
Citigate Dewe Rogerson
Kevin Smith/Jos Bieneman +44 (0)207 638 9571
Note to editors
XP Power designs and manufactures power controllers, the essential hardware
component in every piece of electrical equipment that converts power from the
electricity grid into the right form for equipment to function. Power
controllers are critical for optimal delivery in challenging environments but
are a small part of the overall customer product cost.
XP Power typically designs power control solutions into the end products of
major blue-chip OEMs, with a focus on the Industrial Technology (circa 40% of
sales), Healthcare (circa 30% sales) and Semiconductor Manufacturing Equipment
(circa 30% of sales) sectors. Once designed into a programme, XP Power has a
revenue annuity over the life cycle of the customer's product which is
typically five to seven years depending on the industry sector.
XP Power has invested in research and development and its own manufacturing
facilities in China, North America, and Vietnam, to develop a range of tailored
products based on its own intellectual property that provide its customers with
significantly improved functionality and efficiency.
Headquartered in Singapore and listed on the Main Market of the London Stock
Exchange since 2000, XP Power is a constituent of the FTSE 250 Index. XP Power
serves a global blue-chip customer base from 29 locations in Europe, North
America, and Asia.
For further information, please visit xppowerplc.com
END
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