REG-XP Power Ltd: Appointment of Non-Executive Director

XP PowerAnnouncement

06/12/2024 07:00

6 December 2024

XP Power Limited

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

Appointment of Non-Executive Director

The Board of XP Power is pleased to announce the appointment of Daniel Shook
as Non-Executive Director from 1 January 2025.

Daniel Shook is currently Chief Financial Officer at IMI plc, the FTSE 100
international engineering group. Having joined the IMI board in 2015, he has
extensive financial management experience and knowledge of complex
manufacturing processes across a range of global industrial sectors. He will
be retiring from the IMI Board during 2025. Prior to IMI, Daniel was CFO and a
member of the executive Board at Borealis AG, having previously held senior
financial and management roles at The BOC Group plc. Daniel was  a
non-executive director and Audit Committee Chair of Ultra Electronics Holdings
plc from 2019-2022.

On joining the XP Power Board, Daniel will be appointed as a member of the
Nomination, Remuneration and Audit Committees and will take over from Polly
Williams as chair of the Audit Committee following the conclusion of the
Company's Annual General Meeting in April 2025.

Jamie Pike, Chair said:

"I am delighted to welcome Daniel to XP Power. Daniel brings with him
significant financial and board level experience and his 30 years' experience
in global manufacturing, supply chain and distribution companies across
multiple geographies and sectors will be of great value to the XP board. His
commitment to the sustainability agenda will be an additional asset as we
continue the Group's development."

There are no other disclosures in relation to Daniel Shook's appointment to be
made pursuant to Listing Rule 6.4.8.

 

Enquiries:

 

XP Power  

Ruth Cartwright, Company Secretary +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 Semiconductor Manufacturing Equipment
(circa 36% of sales in H1 2024), Healthcare (circa 24% sales in H1 2024) and 2
Industrial Technology (circa 40% of sales in H1 2024) 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 www.xppowerplc.com.



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