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.