REG-XP Power Ltd: Appointment of Chief Financial Officer

XP PowerAnnouncement

01/08/2023 07:15

1 August 2023

XP Power Limited

("XP Power", "the Group" or "the Company")

Appointment of Chief Financial Officer

XP Power is pleased to announce the appointment of Matt Webb as Chief
Financial Officer (CFO) with effect from 4 September 2023 and he will be
appointed as an Executive Director of the Board at the Board meeting scheduled
for 5 October 2023.

Matt brings with him over 25 years' experience of working within international
businesses at Group and Divisional level, giving him a broad strategic and
operational skillset. Most recently he was Chief Financial Officer at Luceco
plc, a FTSE Main Market designer and manufacturer of LED lighting, EV charging
equipment and electrical wiring devices, from February 2018 until April 2023.

Prior to Luceco plc, Matt spent 11 years with Ferguson plc, the multinational
building materials distribution business, in various strategic and financial
roles that included time spent in the USA as Finance Director for Ferguson's
largest division. His earlier career was spent with BPB plc and Saint-Gobain.
Matt qualified as a Chartered Accountant with KPMG LLP and holds a degree in
Engineering Science from the University of Oxford.

The appointment of Matt Webb follows an extensive search and selection
process.  The Board would like to thank David Stibbs, Interim CFO, for
leading the finance team over the last five months and look forward to his
continuing contribution to the success of the Group.

Jamie Pike, Chair of XP Power, said:

"I am delighted to welcome Matt Webb as CFO. He is an experienced CFO with a
track record of bringing strategic, operational and financial improvements to
growing, listed manufacturing businesses. We are confident that the wealth of
skills and knowledge he has accrued in senior roles within large,
international businesses will be a valuable asset to XP Power. XP Power has
ambitious, global growth plans and we look forward to Matt's contribution."

Matt Webb added:

"XP Power has enviable positions in attractive markets with clear long-term
growth potential and I am delighted to be joining the Group at such an
exciting time as it continues to lay the foundations necessary to maximise
future progress."

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)118 984 5515

 

 

Citigate Dewe Rogerson 

Kevin Smith/Lucy Gibbs +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 41% of
sales), Healthcare (circa 20% sales) and Semiconductor Manufacturing Equipment
(circa 39% 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 All Share Index. XP
Power serves a global blue-chip customer base from over 30 locations in
Europe, North America, and Asia.

For further information, please visit xppowerplc.com (http://xppowerplc.com/)

 



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