Polestar Announces New Board Chair and Strengthens Board of Directors
18 Juin 2024 - 10:15PM
Business Wire
- Håkan Samuelsson to retire; Winfried Vahland appointed Board
Chair
- Carla De Geyseleer chooses not to stand for re-election
- Strengthening of Board through appointment of two additional
directors with significant automotive, finance and reporting
expertise
Polestar (Nasdaq: PSNY) announces that Håkan Samuelsson intends
to retire as Board Chair. The Board of Directors has appointed
Winfried Vahland Board Chair, effective following the Company’s
Annual General Meeting of Shareholders. Carla De Geyseleer, Audit
Committee Chair, has chosen not to stand for re-election as
Director, in order to focus on her executive role.
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Håkan Samuelsson has been a part of Polestar’s journey since the
brand was launched as the electric performance car company in 2017,
acting as Board Chair during a period of model line-up and market
expansion.
Håkan Samuelsson says: “I am extremely proud of what Polestar
has achieved in such a short time, as Europe’s only established
pure EV company and brand. Polestar combines design, luxury and
performance in a way that creates some of the most attractive cars
available on the fast-growing EV market.”
Carla De Geyseleer says: “I want to thank everyone at Polestar
for allowing me to contribute to the early part of this brand’s
journey. The achievements to date will only be matched by those in
the future, which I will continue to follow with great interest and
excitement.”
Winfried Vahland says: “On behalf of the Board of Directors, I
would like to thank both Håkan and Carla for their commitment and
dedication to Polestar. With his background as CEO of Volvo Cars,
Håkan has played a major role in ensuring that Polestar is now in a
good position to assert itself in the global automotive market.
Carla had an instrumental role in our NASDAQ listing and has been a
great support for the company in her role as Audit Committee
Chair.”
With an established global presence and strong brand
recognition, Polestar is now entering the next phase of its
development, expanding its model line-up, consolidating its
position as a performance-oriented premium car brand in the
electric age.
Winfried Vahland is looking forward to helping shape Polestar’s
future development: “The world has been wowed by Polestar 2. With
just one car, we have shown what is possible from a brand that puts
performance and design at its core. Our product offensive is now
unleashing its full power, with Polestar 3 and Polestar 4 on the
market and Polestar 5 receiving impressive early reviews. These
cars underline that Polestar is and will be one of the winners of
the transformation of the automotive industry. I look forward to
helping to steer Polestar towards fully realizing its
potential.”
Winfried Vahland has a long career in the international
automotive industry. Among other leading positions the graduate
economist and engineer was CEO and President of Volkswagen Group
China from 2005-2010, where he oversaw a turnaround of operations
through an extensive model offensive and successful efficiency
program. He held the position as CEO of Škoda Auto between
2010-2015, delivering the future-oriented positioning of the brand,
a comprehensive model expansion and record results. Prior to
joining the Polestar Board in January 2024, he served for five
years as a Member of the Board of Volvo Cars.
Subject to approval at the Company’s upcoming Annual General
Meeting of Shareholders, Christine Gorjanc and Xiaojie Shen (Laura)
have been proposed as new directors.
Christine Gorjanc has over 35 years of experience in finance and
accounting roles and is a highly experienced previous Chief
Financial Officer of Netgear and Arlo Technologies. She has served
on both public and private company boards including chairing the
Audit Committee and serving on the Compensation Committee on these.
She is lead director of Juniper Networks. Christine is proposed to
Chair the Polestar Board’s Audit Committee.
Xiaojie Shen (Laura) has over 20 years of automotive industry
experience. She joined Volkswagen Group (China) in 2007 as Vice
President and has held several senior management positions,
including as Managing Director of Volkswagen Group (China) Import
Company. Previously, she was Head of Sales of BMW Brilliance.
Forward Looking Statements
This press release contains statements that are not historical
facts, but rather forward-looking statements within the meaning of
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include those that address activities,
events or developments that Polestar or its management believes or
anticipates may occur in the future. All forward-looking statements
are based upon, as applicable, our current expectations, various
assumptions and data available from third parties. Our expectations
and assumptions are expressed in good faith and we believe there is
a reasonable basis for them. However, there can be no assurance
that such forward-looking statements will materialize or prove to
be correct as forward-looking statements are inherently subject to
known and unknown risks, uncertainties and other factors which may
cause actual future results, performance or achievements to differ
materially from the future results, performance or achievements
expressed in or implied by such forward-looking statements.
Numerous risks, uncertainties and other factors may cause actual
results to differ materially from those set out in the
forward-looking statements, including those risks and uncertainties
set forth in the sections entitled “Risk Factors” and “Cautionary
Note Regarding Forward-Looking Statements” in Polestar’s Form 20-F,
and other documents filed, or to be filed, with the U.S. Securities
and Exchange Commission by Polestar. For any forward-looking
statements contained in this or any other document, we claim the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995,
and we assume no obligation to update publicly or revise any such
statements in light of new information or future events, except as
required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240618072243/en/
Bojana Flint Head of IR Bojana.flint@polestar.com
Theo Kjellberg Head of Corporate Communication
theo.kjellberg@polestar.com
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