24 July
2024
Nexteq plc
("Nexteq" or the
"Group")
Board Transition
Nexteq (AIM: NXQ), a leading
technology solutions provider to customers in selected industrial
markets, today announces a transition in its Board of
Directors.
Francis Small (Non-Executive Chair), Jon Jayal (Chief
Executive Officer) and Johan Olivier (Chief Financial Officer) have
informed the Board that they will step down from the Board and
leave the Group in the coming months. Francis, Jon and Johan intend
to continue in their roles until successors have been identified
and to facilitate an orderly handover.
Processes are already underway for the selection of
successors for these roles, and it is anticipated that the
appointment of the new independent Non-Executive Chair will be
announced shortly. Further announcements will be made in due
course.
Jon Jayal, CEO of
Nexteq, commented:
"I am incredibly
proud of what we have achieved at Nexteq and of our team of
talented people. Having considered the decision carefully for
a number of months, I believe that now is the right time for me to
seek new opportunities and for the Board to introduce new
leadership with fresh skills and experience to drive the next stage
of the Company's development. I look forward to supporting
the Group through this transition."
Francis Small,
Non-Executive Chair of Nexteq, commented:
"The Group has
achieved considerable success in recent years, thanks to the hard
work of a highly skilled and dedicated team of people. I look
forward to supporting the Group through an orderly handover and to
the Group's continued progress."
Johan Olivier, CFO
of Nexteq, commented:
"It has been a
privilege to be part of the Nexteq team, working alongside our
committed and talented people. Nexteq has been a great place to
work and I am incredibly proud of what we have achieved. I've given
this a lot of thought but consider that now is the right time for
me to seek my next opportunity. I look forward to supporting the
Group through the handover in the coming months."
Nick Jarmany,
founding Director and Deputy Chair of Nexteq, commented:
"Whilst I am sorry
to see Francis, Jon and Johan leave, I respect their decisions
which have been carefully considered over some time and I am
looking forward to welcoming new leadership to Nexteq to support
our growth strategy.
I would like to
thank Francis for his contribution to the business. Francis has
proficiently led the Board and provided the business with vital
support and counsel over the last three years. His experience and
insight have been valuable as we navigated through the evolving
macroeconomic landscape. I wish Francis well in his future
endeavours.
As CEO, Jon has led
the business and navigated the opportunities and challenges we face
expertly. We continue to benefit from his knowledge and experience
as we support our customers with innovative specialist solutions to
help them achieve their ambitions. While we will be sorry to see
him go, we believe there will be fresh opportunities unlocked by
new leadership in supporting the Group's next chapter of
growth.
Johan has been a great executive
partner to Jon and has contributed immensely to improving our
financial discipline. Johan has been a vocal and active Board
member providing lateral thinking to evolve and enhance our
strategy and decision-making. We wish Johan well in his next
role."
Nexteq plc
Jon Jayal, Chief Executive
Officer
Johan Olivier, Chief Financial
Officer
Nick Jarmany, Deputy
Chair
|
Tel: +44
(0)1223 892 696
|
Nominated Adviser and Broker:
Cavendish Capital Markets
Ltd
Matt Goode / Teddy Whiley (Corporate
Finance)
Tim Redfern / Harriet Ward
(ECM)
|
Tel: +44
(0)20 7220 0500
|
Joint Broker:
Canaccord Genuity Limited
Simon Bridges / Andrew
Potts
|
Tel: +44
(0)20 7523 8000
|
Financial PR:
Alma Strategic
Communications
Hilary Buchanan / Kieran
Breheny
|
Tel: +44
(0)20 3405 0205
|
About Nexteq
Nexteq (AIM: NXQ) is a strategic
technology solutions provider to customers in selected industrial
markets. Its innovative technology enables the manufacturers of
global electronic equipment to outsource the design, development
and supply of non-core aspects of their product offering. By
outsourcing elements of their technology stack to Nexteq, customers
can focus their product development effort on the most critical
drivers of their business' success.
Our solutions are delivered through
a global sales team and leverage the Group's electronic hardware,
software, display and mechanical engineering expertise. Our Taiwan
operation is at the heart of Asian supply networks and facilitates
cost effective manufacturing and strategic supply chain
management.
The Group operates in six countries
and services over 500 customers across 47 countries.
Nexteq operates two distinct brands:
Quixant, a specialised computer platforms provider, and Densitron,
leaders in human machine interface technology, each with dedicated
sales, account management and product innovation teams. Founded in
2005, and later floating on the London Stock Exchange's AIM stock
market as Quixant plc, the Group rebranded to Nexteq in
2023.
Further information on Nexteq and
its divisions can be found at www.nexteqplc.com.
This announcement contains inside information for the
purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.