REG-XP Power Ltd: Appointment of Chief Financial Officer

XP PowerAnnouncement

29/04/2021 07:05

 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



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