XP Power Ltd Appointment of Chief Financial Officer

 
TIDMXPP 
 
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 
 
 
 
END 
 
 

(END) Dow Jones Newswires

April 29, 2021 02:00 ET (06:00 GMT)