XP POWER LTD - Appointment of Chief Financial Officer

XP POWER LTD - Appointment of Chief Financial Officer

PR Newswire

London, April 28

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 [phone]

Citigate Dewe Rogerson

Kevin Smith/Jos Bieneman [phone]

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