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