Expanded Board Enhances Financial and Governance Expertise
Supporting ESG Commitments
REE Automotive Ltd. (NASDAQ: REE), a leader in e-mobility,
announced today that it has expanded its Board of Directors,
appointing two new independent members. The additional board
members deepen and diversify its leadership as the company
progresses towards technology maturation and commercial production
in 2023.
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the full release here:
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Michal Brikman (Photo: Business Wire)
REE has appointed seasoned veterans Ms. Michal Brikman and Ms.
Lilach Geva-Harel, who bring a wealth of public company financial,
corporate governance and sustainability expertise. The board also
announced the resignation of Mr. Ari Raved from REE’s board after
more than seven years of distinguished service.
Daniel Barel, REE Co-Founder and CEO: “As REE continues to grow
and execute on our business plan, we welcome new independent board
members who will contribute to the efforts to guide our vision and
realize our goal of becoming the cornerstone of e-mobility. Lilach
and Michal bring to their role as independent directors strong and
diverse expertise and leadership across the mobility, technology,
energy and financial industries, and we are grateful to Ari for his
many years of service, strategic guidance, and role in growing REE
to a public company. I look forward to continue working with our
Board of Directors and executing our ESG vision as we advance
towards commercialization and drive toward a zero-emissions
future.”
Lilach Geva-Harel leads global compliance as well as regulatory
and government relations as EVP and Global General Counsel of ICL
Group (NYSE: ICL), a global specialty minerals company. She has
more than two decades of leadership experience advising boards,
leading corporate governance and operating in complex regulatory
environments.
Michal Brikman specializes in financial and business structures,
business deals and corporate governance, serving as a board member
for Partner Communications (NASDAQ: PTNR). She has significant
experience on public company boards, including positions that
include Head of the Technology Committee for Union Bank, and Head
of the Audit, Finance and Compensation Committees for Israel’s
largest public institutional investment houses.
About REE
REE is an automotive technology leader creating the cornerstone
for tomorrow's zero-emission vehicles. REE’s mission is to empower
global mobility companies to build any size or shape of electric or
autonomous vehicle – from class 1 through class 6 - for any
application and any target market. Our revolutionary, award-winning
REEcorner technology packs traditional vehicle drive components
(steering, braking, suspension, powertrain and control) into the
arch of the wheel, allowing for the industry's flattest EV
platform. Unrestricted by legacy thinking, REE is a truly
horizontal player, with technology applicable to the widest range
of target markets and applications. Designed to be fully scalable
and completely modular, REE offers multiple customer benefits
including complete vehicle design freedom, more space and volume
with the smallest footprint, lower TCO, faster development times,
ADAS compatibility, reduced maintenance and global safety standard
compliance.
Headquartered in Tel Aviv, Israel, REE has subsidiaries in the
U.S., the UK, Japan and Germany, and the company plans to open a
U.S. headquarters and first integration center in Austin, Texas.
REE has a unique CapEx-light manufacturing model that leverages its
Tier 1 partners’ existing production lines. REE’s technology,
together with their unique value proposition and commitment to
excellence, positions REE to break new ground in e-Mobility. For
more information visit https://www.ree.auto.
Caution About Forward-Looking Statements
This communication includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical facts,
may be forward-looking statements. Words such as “may,” “will,”
“should,” “likely,” “anticipates,” “expects,” “intends,” “plans,”
“projects,” “believes,” “views,” “estimates”, “future”, “allows”,
“aims”, “strives” “endeavors” and similar expressions are used to
identify these forward-looking statements. These statements
include, among other things, the Company’s statements about the
Company’s strategic and business plans, relationships or outlook,
the impact of trends on and interest in its business, intellectual
property or product and its future results. These forward-looking
statements are based on REE’s expectations and beliefs concerning
future events and involve risks and uncertainties that may cause
actual results to differ materially from current expectations.
These factors are difficult to predict accurately and may be beyond
REE’s control. Forward-looking statements in this communication or
elsewhere speak only as of the date made and REE undertakes no
obligation to update its forward-looking statements, whether as a
result of new information, future developments or otherwise, should
circumstances change, except as otherwise required by securities
and other applicable laws. In light of these risks and
uncertainties, investors should keep in mind that results, events
or developments discussed in any forward-looking statement made in
this communication may not occur. Uncertainties and risk factors
that could affect REE’s future performance and cause results to
differ from the forward-looking statements in this release include,
but are not limited to: REE’s ability to commercialize its
strategic plan; REE’s ability to maintain and advance relationships
with current Tier 1 suppliers and strategic partners; development
of REE’s advanced prototypes into marketable products; REE’s
ability to grow and scale manufacturing capacity through
relationships with Tier 1 suppliers; REE’s estimates of unit sales,
expenses and profitability and underlying assumptions; REE’s
reliance on its UK Engineering Center of Excellence for the design,
validation, verification, testing and homologation of its products;
REE’s limited operating history; risks associated with plans for
REE’s initial commercial production; REE’s dependence on potential
suppliers, some of which will be single or limited source;
development of the market for commercial EVs; intense competition
in the e-mobility space, including with competitors who have
significantly more resources; risks related to the fact that the
Company is incorporated in Israel and governed by Israeli law;
REE’s ability to make continued investments in its platform; the
impact of the ongoing COVID-19 pandemic and any other worldwide
health epidemics or outbreaks that may arise; the need to attract,
train and retain highly-skilled technical workforce; changes in
laws and regulations that impact REE; REE’s ability to enforce,
protect and maintain intellectual property rights as well as
protect itself and defend against actual or potential claims; REE’s
ability to retain engineers and other highly qualified employees to
further its goals and insulate itself from and defend against any
potential or asserted employee claims or legal action; and other
risks and uncertainties set forth in the sections entitled “Risk
Factors” and “Cautionary Note Regarding Forward-Looking Statements”
in REE’s final prospectus relating to its business combination
filed with the U.S. Securities and Exchange Commission (the “SEC”)
on July 1, 2021 and in subsequent filings with the SEC. While the
list of factors discussed above and the list of factors presented
in the final prospectus are considered representative, no such list
should be considered to be a complete statement of all potential
risks and uncertainties. Unlisted factors may present significant
additional obstacles to the realization of forward-looking
statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211026005784/en/
Investor Relations Limor Gruber VP Investor Relations,
REE Automotive +972-50-5239233 investors@ree.auto
Media Keren Shemesh Chief Marketing Officer, REE
Automotive +972-54-5814333 media@ree.auto
Reeds (MM) (NASDAQ:REEDR)
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Reeds (MM) (NASDAQ:REEDR)
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