XP Power Ltd Appointment of Chief Financial Officer

 
TIDMXPP 
 
1 August 2023 
 
XP Power Limited 
 
("XP Power", "the Group" or "the Company") 
 
Appointment of Chief Financial Officer 
 
XP Power is pleased to announce the appointment of Matt Webb as Chief Financial 
Officer (CFO) with effect from 4 September 2023 and he will be appointed as an 
Executive Director of the Board at the Board meeting scheduled for 5 October 
2023. 
 
Matt brings with him over 25 years' experience of working within international 
businesses at Group and Divisional level, giving him a broad strategic and 
operational skillset. Most recently he was Chief Financial Officer at Luceco 
plc, a FTSE Main Market designer and manufacturer of LED lighting, EV charging 
equipment and electrical wiring devices, from February 2018 until April 2023. 
 
Prior to Luceco plc, Matt spent 11 years with Ferguson plc, the multinational 
building materials distribution business, in various strategic and financial 
roles that included time spent in the USA as Finance Director for Ferguson's 
largest division. His earlier career was spent with BPB plc and Saint-Gobain. 
Matt qualified as a Chartered Accountant with KPMG LLP and holds a degree in 
Engineering Science from the University of Oxford. 
 
The appointment of Matt Webb follows an extensive search and selection process. 
The Board would like to thank David Stibbs, Interim CFO, for leading the finance 
team over the last five months and look forward to his continuing contribution 
to the success of the Group. 
 
Jamie Pike, Chair of XP Power, said: 
 
"I am delighted to welcome Matt Webb as CFO. He is an experienced CFO with a 
track record of bringing strategic, operational and financial improvements to 
growing, listed manufacturing businesses. We are confident that the wealth of 
skills and knowledge he has accrued in senior roles within large, international 
businesses will be a valuable asset to XP Power. XP Power has ambitious, global 
growth plans and we look forward to Matt's contribution." 
 
Matt Webb added: 
 
"XP Power has enviable positions in attractive markets with clear long-term 
growth potential and I am delighted to be joining the Group at such an exciting 
time as it continues to lay the foundations necessary to maximise future 
progress." 
 
There are no other disclosures to be made pursuant to Listing Rule 9.6.13. 
 
Enquiries: 
 
XP Power 
 
Gavin Griggs, Chief Executive Officer+44 (0)118 984 5515 
 
Citigate Dewe Rogerson 
 
Kevin Smith/Lucy Gibbs+44 (0)207 638 9571 
 
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 41% of 
sales), Healthcare (circa 20% sales) and Semiconductor Manufacturing Equipment 
(circa 39% 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 All Share Index. XP 
Power serves a global blue-chip customer base from over 30 locations in Europe, 
North America, and Asia. 
 
For further information, please visit xppowerplc.com 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END

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August 01, 2023 02:00 ET (06:00 GMT)

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