Board Transition
24/07/2024 07:01
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240724:nRSX5461Xa&default-theme=true
RNS Number : 5461X Nexteq PLC 24 July 2024
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 Tel: +44 (0)1223 892 696
Jon Jayal, Chief Executive Officer
Johan Olivier, Chief Financial Officer
Nick Jarmany, Deputy Chair
Nominated Adviser and Broker: Tel: +44 (0)20 7220 0500
Cavendish Capital Markets Ltd
Matt Goode / Teddy Whiley (Corporate Finance)
Tim Redfern / Harriet Ward (ECM)
Joint Broker: Tel: +44 (0)20 7523 8000
Canaccord Genuity Limited
Simon Bridges / Andrew Potts
Financial PR: Tel: +44 (0)20 3405 0205
Alma Strategic Communications
Hilary Buchanan / Kieran Breheny
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 (http://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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END BOABIGDRGXDDGSX