Business
CEO Succession
CEO Succession.
About this update from Xp Power Ltd.
[{"type":"text","content":"\n \n XP Power Limited\n (“XP Power” or “the Group”)\n CEO Succession\n The Board of XP Power announces that, after over seventeen years as Chief Executive Officer, Duncan Penny has informed the Board of his intention to retire as CEO, from the XP Power Board and Executive life. Duncan will step down as CEO on 31 December 2020 and leave the Board and the Group at the AGM in April 2021.\n The Board are delighted to announce that, after a thorough executive search company led process, Gavin Griggs, currently Chief Financial Officer, will succeed Duncan as Chief Executive Officer on 1 January 2021.\n Gavin has been the Chief Financial Officer at XP Power since joining the Group in November 2017 and has worked very closely with Duncan since that time. He is a proven executive with experience of a broad range of sectors, gained in senior international finance and strategy roles with Alternative Networks, Logica, SABMiller, Sodexo and PepsiCo.\n The Group has today commenced the search for Gavin’s successor as Chief Financial Officer and an appointment will be announced in due course.\n James Peters, Chairman, said:\n \"On behalf of the entire XP Power team, I want to thank Duncan for his significant and enduring contribution to our Group and wish him well for the future. Duncan joined XP Power as Chief Financial Officer in 2000, becoming CEO in 2003, and has led our business with distinction.\n He will leave having established a high-quality team, with a broad range of skills, experiences and perspectives which is well placed to take XP Power forward under Gavin's leadership.\n The Board is confident that Gavin is the right person to take XP Power forward. He is a proven business leader with significant experience and expertise across a variety of growth-oriented business sectors and has worked very closely with Duncan since joining the Group. We look forward to working with Gavin in his new role.\"\n Duncan Penny, Chief Executive Officer, said:\n \"It has been a privilege to lead XP Power over the last seventeen years, but I am confident that now is the right time for me to pass over the reins. I am immensely proud of what we have achieved in my time as CEO. I would like to place on record my thanks to the Board of XP Power and all of my colleagues, old and new, for their support, and wish them every success in the future.\"\n Gavin...