Business
Appointment of new Chief Executive Officer
Appointment of new Chief Executive Officer.
About this update from Cap-xx Limited
[{"type":"text","content":"\n\nDissemination of a Regulatory Announcement that contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.\n \n11 May 2023\nCAP-XX Limited\n(\"CAP-XX\" or \"the Company\")\nAppointment of new Chief Executive Officer\n \nThe Board of CAP-XX is pleased to announce the appointment of Lars Stegmann as Chief Executive Officer.\nMr Stegmann has spent more than two decades in international sales, project, and management roles. He has considerable experience in the field of power electronics, electronic components and systems, as well as an extensive sales and marketing background in the automotive, automation, industrial, marine and medical technology industries.\nPrior to joining CAP-XX, Mr Stegmann worked as Vice President and General Manager of C&K, the electronic switch and component manufacturer which is now part of Littelfuse Inc. In this capacity he had revenue, P&L and operational responsibility for the EMEA region, including management of C&K's highly automated production facilities in Europe.\nMr Stegmann has had extensive international business and market development experience in electronics and semi-conductors in senior sales management and business development roles with Molex Inc., IEE S.A., SMA Solar Technology AG, VISEDO Oy (now owned by Danfoss) and Phoenix Contact. \nMr Stegmann holds an engineering degree (Dipl. Ing.) in power electronics and an MBA from Zurich International Business School.\nMr Stegmann will be based in Hamburg, Germany to be closer to many of CAP-XX's customers and investors.\nMr Stegmann's appointment to the Board is subject to approval from the Company's Nominated Adviser following the customary director due diligence processes required for an appointment of this nature. A further announcement in this regard will be made in due course.\nPatrick Elliottt, Chairman of CAP-XX, said:\n\"We are delighted to announce the appointment of Lars Stegmann as Chief Executive of CAP-XX. Lars has an extensive results and customer focussed background in power electronics and international sales and marketing. He joins CAP-XX as we drive the expansion of our sales and distribution channels, having largely completed the integration and commissioning of our capacity expansion at Seven Hill...